BTIG analyst Robert Hazlett initiated Zosano Pharma with a Buy rating and a price target of $19 after its M207 – “a promising, rapid-acting ADAM-based form of zolmitriptan completed a pivotal study with very positive results”. Hazlett says the drug demonstrated comparable efficacy in the acute treatment of migraine comparable to injectable triptans and also appears to be superior to newer therapeutics in development. The analyst believes that M207 can have a “substantial role in difficult-to-treat well-established migraine”, adding that the valuation on Zosano Pharma stock also appears to be “attractive”.
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