VTGN - VistaGen initiated with Buy at Jefferies on 'upside potential' for anxiety drug

Vistagen Therapeutics (VTGN) jumps 13% premarket after Jefferies initiated coverage with a Buy rating and price target of $6.Analyst Andrew Tsai says that company's lead asset, PH94B, a fast-acting nasal spray had compelling Phase II data and could become the first FDA-approved treatment for acute social anxiety disorder.Investors are overlooking the 'upside potential' of the treatment, as well as the likelihood of success in a Phase III trail, Andrew Tsai wrote.Pivotal data in 2022 could push the stock towards $8 versus downside to mostly cash, he added.VTGN Quant Rating is Bullish, while Wall Street Analysts Rating is Very Bullish with PT of $6.67.

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VistaGen initiated with Buy at Jefferies on 'upside potential' for anxiety drug