Vistagen shares surge 16.32% after-hours as Stifel reiterates Buy rating and $12 price target on positive PAL-2 trial data.

Vistagen Therapeutics (NASDAQ:VTGN) surged 16.32% in after-hours trading following Stifel’s reiterated Buy rating and $12.00 price target, a 197% upside from its $4.04 share price. The research firm highlighted positive data from VistaGen’s fasedienol PAL-2 trial, despite the earlier PAL-1 trial failing to achieve statistical significance, which management attributed to pandemic-related challenges. Stifel noted VistaGen’s improved trial designs for upcoming PAL-3 and PAL-4 studies, expected in 2025-2026, and the company’s strong cash position revealed in its Q2 2025 earnings call. These developments reinforced confidence in VistaGen’s pipeline advancements for social anxiety disorder treatments, aligning with the analyst firm’s optimism about regulatory and clinical progress.