3M (MMM) (WTI) (AEZS) (RRC) (VDSI) Get Ratings Initiations

3M (NYSE:MMM), W&T Offshore (NYSE:WTI), Aeterna Zentaris (NASDAQ:AEZS), Range Resources (NYSE:RRC) and VASCO Data Security (NASDAQ:VDSI) had analysts initiate coverage on them.

3M (MMM) was started off with a "Buy" rating by Deutsche Bank (NYSE:DB), which has a price target of $110 on the company.

W&T Offshore (WTI) was started off with a rating of Equal Weight by Barclays Capital, with a price target of $26.

Aeterna Zentaris (AEZS) was initiated at a "Speculative Buy" rating by Canaccord Genuity, with a price target of $4.

Range Resources (RRC) was initiated at a "Neutral" rating by UBS (NYSE:UBS, with a price target of $55.

VASCO Data Security (NASDAQ:VDSI) was started off with a "Buy" by Dougherty & Company, which placed a price target of $15 on the firm.

Shares of Æterna Zentaris (AEZS) Soar on Positive Outlook

Æterna Zentaris, Inc. (Nasdaq:AEZS) shares are rocking today, following a bullish article on Seeking Alpha. The stock popped about 4.7% to $1.79, but has since receded a little.

The article highlights five key points that could still pack a potential 200% to 300% of upside into the stock. First, the author highlights that AEZS is in a healthy cash position, enough to fund upcoming trials and filings. They continue that AEZS is planning a New Drug Application with the U.S. FDA for Solorel, which is currently in Phase 3 testing and under a Special Protocol Assessment (SPA) with the FDA.

Further, perifisone is also in Phase 3, and has SPA, orphan-drug designation, and Fast-Track review from the FDA. An NDA filing is expected in 2012.




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AEterna Zentaris (NASDAQ:AEZS) Shares Up on Solorel Study Approval from FDA

Shares of AEterna Zentaris (NASDAQ:AEZS) pushed on on news the U.S. Food and Drug Administration (FDA) gave them the okay to go ahead with their study of Solorel.

While shares soared over 10 percent on the immediate news, they pulled back at close Monday to between 6 percent and 7 percent gain.

Solaris is used for diagnosing the presence of growth hormone deficiency.

If the drug eventually was approved for use, it is estimated from Dejardins Securities to generate from $30 million to $40 million in revenue annually.

Canaccord said, "We attended AEZS’ analyst and investor day, where the company highlighted its deep oncology and endocrinology pipeline. Our positive view of the company’s lead drug development programs was reinforced following expert presentations; however, we have made no changes to our valuation other than to add niche Phase III product Solorel, which results in a small increase to our target price. Despite the modest change to our model, we believe that there exists a significant valuation gap between AEZS and a comparator company, thereby increasing our confidence in our rating."

Canaccord Genuity maintains a "Speculative Buy" AEterna Zentaris, which closed Monday at $1.96, up $0.12, or 6.52 percent. Canaccord increased their price target on the company from $2.60 to $2.75.