On Thursday, the VistaGen Therapeutics (NASDAQ:VTGN) stock made a strong move during aftermarket trading hours yesterday. The stock soared by as much as 12% after the firm Baird started covering it and called it ‘significantly undervalued’ at this point.
The VistaGen stock was given an ‘outperform’ rating and Baird went on to state that it could turn out to be a major outperformer over the course of the next year.
Brian Smokey, the analyst at Baird, set the target price for the VistaGen stock at $9 a share. That reflected an upside of as much as 219% from the price at which the stock closed on May 18. The analyst revealed that the company’s lead candidate PH94B could be the major catalyst for the VistaGen stock. It is now in Phase 3 and Smokey stated that the nasal spray, which is mean to combat anxiety, might prove to be a major commercial success.