VTGN - VistaGen surges 17% post-market after Baird calls stock 'significantly undervalued'

Baird has initiated shares of VistaGen Therapeutics (VTGN) with an outperform rating, calling the stock "significantly undervalued" and "a big outperformer over the next year."Analyst Brian Skorney has a $9 price target, implying a 291% return from today's close.Skorney highlights the potential of its phase 3 lead candidate, PH94B, a synthetic pherine nasal spray for anxiety, as having a very large commercial opportunity.The company says PH94B's mechanism of action is fundamentally different from benzodiazepines and other anti-anxiety medicines, with fewer side effects and safety concerns.VistaGen shares are up 17% to $2.69 in after-hours trading.

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VistaGen surges 17% post-market after Baird calls stock 'significantly undervalued'