UPDATE: H.C. Wainwright Initiates Coverage On AEterna Zentaris

In a report released Thursday, H.C. Wainwright analyst Swayampakula Ramakanth initiated coverage on AEterna Zentaris (NASDAQ: AEZS) with a Buy rating and a 12-month price target of $3.00 per share.

Analysts at H.C. Wainwright favor AEterna for the likelihood of its drug Macrilen passing its FDA review. Macrilen is an Adult Growth Hormone Deficiency (AGHD) detection treatment, expected to be approved by the PDUFA date of November 25 and acquired in-licenses approved the treatment expected by the end of 2014.

The Wainwright note also focused on Zoptarelin doxorubicin, with most sourced guidance anticipating its release in 2018. Zoptarelin is a high-purpose endometrial cancer treatment, with expected high growth into AEterna's share price over time.

Shares of AEterna were last trading at $1.23, up 5.13 percent.