Jefferies Downgrades VistaGen Therapeutics (VTGN) to Hold

Jefferies analyst Andrew Tsai downgraded VistaGen Therapeutics (NASDAQ: VTGN) from Buy to Hold with a price target of $0.90 (from $15.00).

The analyst comments "Fasedienol (novel pherine spray) fails to meet the Phase III primary endpoint (PALISADE-3) for social anxiety disorder (SAD). Although the next Phase III readout (PALISADE-4) remains on track for H1:26, our confidence decreases significantly as we are unsure if the drug is meaningfully active/efficacious, having produced just one of three (+) Phase III datasets to date. Net-net, we downgrade to Hold as VTGN becomes a show-me story."

For an analyst ratings summary and ratings history on VistaGen Therapeutics click here. For more ratings news on VistaGen Therapeutics click here.

Shares of VistaGen Therapeutics closed at $4.36 yesterday.

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