Zacks Investment Research Upgrades VistaGen Therapeutics (NASDAQ:VTGN) to “Hold”

VistaGen Therapeutics (NASDAQ:VTGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “VistaGen Therapeutics, Inc. is a biotechnology company. It is engaged in developing and commercializing product candidates for diseases and disorders involving the central nervous system. The company’s lead product candidate consists of AV-101, is an orally available prodrug candidate in Phase II development, initially for the adjunctive treatment of major depressive disorder. VistaGen Therapeutics, Inc. is headquartered in South San Francisco, California. “

Separately, Robert W. Baird assumed coverage on VistaGen Therapeutics in a research note on Sunday, October 17th. They issued a “buy” rating and a $9.00 price target for the company.

VTGN stock opened at $1.74 on Thursday. VistaGen Therapeutics has a 1-year low of $1.60 and a 1-year high of $3.55. The company has a market capitalization of $347.48 million, a price-to-earnings ratio of -4.58 and a beta of 0.89. The business has a 50 day simple moving average of $1.95 and a two-hundred day simple moving average of $2.50.

VistaGen Therapeutics (NASDAQ:VTGN) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.02). VistaGen Therapeutics had a negative return on equity of 36.41% and a negative net margin of 2,183.17%. The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.33 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. On average, equities analysts predict that VistaGen Therapeutics will post -0.27 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of VTGN. New York State Common Retirement Fund bought a new position in shares of VistaGen Therapeutics during the 2nd quarter valued at approximately $516,000. Rhumbline Advisers bought a new position in shares of VistaGen Therapeutics during the 2nd quarter valued at approximately $449,000. Ameritas Investment Partners Inc. bought a new position in shares of VistaGen Therapeutics during the 2nd quarter valued at approximately $47,000. HighTower Advisors LLC boosted its position in shares of VistaGen Therapeutics by 7.9% during the 2nd quarter. HighTower Advisors LLC now owns 136,078 shares of the company’s stock valued at $429,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of VistaGen Therapeutics during the 2nd quarter valued at approximately $92,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

About VistaGen Therapeutics

VistaGen Therapeutics, Inc is a clinical-stage biopharmaceutical company committed to developing and commercializing new generation medications that go beyond the current standard of care for anxiety, depression and other central nervous system (CNS) disorders. The company’s portfolio includes PH94B, a neuroactive nasal spray with potential to treat multiple anxiety disorders that the company is currently preparing for phase III clinical trial for social anxiety disorder (SAD); PH10, a neuroactive nasal spray that the company is planning for phase 2b development as a stand-alone treatment for major depressive disorder (MDD); and AV-101 which the company is developing for the treatment of major depressive disorder (MDD), suicidal ideation, neuropathic pain, levodopa-induced dyskinesia (LID), and epilepsy.

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