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.

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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.

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Kundyz Nurzhanovna 1 month 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 month ago Member's comment

What else are you investing in?

Kundyz Nurzhanovna 1 month ago Member's comment

19$ good job!