BTIG Boosts Zosano Target To $19 On 'Solid' Migraine Safety Data

BTIG analyst Robert Hazlett raised his price target for Zosano Pharma (ZSAN) to $19 and keeps a Buy rating on the shares. The stock in morning trading is up 95%, or $2.10, to $4.31. Zosano's 12-month safety study of Qtrypta, its novel acute migraine therapeutic, demonstrates "rapid, robust, and durable efficacy," Hazlett tells investors in a research note. He believes the study announced this morning should finalize the clinical requirements for a New Drug Application in Q4.

Image result for zosano pharma

The data continue to support Qtrypta's "meaningful potential" as an acute migraine treatment, particularly for those with nausea or with difficult-to-treat migraine, says Hazlett. He estimates Qtrypta's approval in 2020 with U.S. peak revenue of ~$300M. The analyst estimates Zosano's standalone net present value at $16.94 per share, and the company's potential as a takeover target boosts his price target to $19.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.
Kundyz Nurzhanovna 1 year ago Member's comment

I bought 4000 shares of ZSAN at $ 6.22, but it fell to $ 4.69 -25% please tell me there is a reason to wait for $ 19??? thank you

Adam Reynolds 1 year ago Member's comment

What else are you investing in?

Kundyz Nurzhanovna 1 year ago Member's comment

19$ good job!