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H.C. Wainwright Upgrades Aeterna Zentaris (AEZS) to Buy

April 14, 2015 7:28 AM EDT
Get Alerts AEZS Hot Sheet
Price: $2.19 +5.29%

Rating Summary:
    4 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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H.C. Wainwright upgraded Aeterna Zentaris (NASDAQ: AEZS) from Neutral to Buy with a price target of $1.25.

Analyst Swayampakula Ramakanth said, "On April 13, after a successful meeting with the FDA, management announced plans for a new Phase 3 trial and a separate, thorough QT study to address the issues raised in the CRL. We believe positive data from these studies could aid in achieving Macrilen regulatory approval. We expect the studies to commence in 2H15 and complete by the end of 2017. With a reported cash of nearly $35 million at the end of FY2014, these studies (estimated cost of $5-6M) are not expected to be a significant drag on funds. With better insight into Macrilen development, in addition to expected revenues from Estrogel sales, and potential expansion of the commercial portfolio, we believe that shares of Æterna Zentaris are attractive."

For an analyst ratings summary and ratings history on Æterna Zentaris click here. For more ratings news on Æterna Zentaris click here.

Shares of Æterna Zentaris closed at $0.54 yesterday.



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