Analysts Say AEterna Zentaris Should Be Valued 200% to 300% Higher

| About: AEterna Zentaris, (AEZS)
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I am shocked AEterna Zentaris (NASDAQ:AEZS) hasn't already risen above $2 a share given the fact AEZS has had 3 analyst give investors very bullish views over the past 2 1/2 weeks. AEZS has provided investors with exceptional details that have clearly not been reflected in the stock price.

This week Versant analyst raised his price target on AEZS:

* DECEMBER 15, 2010, 12:36 P.M. ET
AEterna Zentaris Target Raised To $4 From $2.50 By
Versant Partners analyst Douglas W. Loe

Last week Dundee AEZS analyst raised his price target:

* DECEMBER 6, 2010, 8:45 A.M. ET
AEterna Zentaris Target Raised To $3 From $2 By Dundee.

AEZS had new analyst coverage with a BUY from MLV:

* NOVEMBER 29, 2010, 11:54 A.M. ET
McNicoll Lewis & Vlak Starts AEterna Zentaris at Buy Price Target $5.50; Sales Revenue and Funded Phase III Trials Support Perifosine Development.
McNicoll Lewis & Vlak Analyst George B. Zavoico

AEZS presented a Comprehensive R&D review and its strategic outlook for 2011, at the InterContinental New York Barclay Hotel in New York City on Dec 14, 2010, Details below:

Key Announcements

* Perifosine
o On track for completion of the Phase 3 X-PECT trial in metastatic colorectal cancer expected in the second half of 2011;
o Additional centers opened outside the U.S. for ongoing Phase 3 trial in multiple myeloma - patients under screening;
o Decision to come on the development in new indications such as Chronic Lymphocytic Leukemia (CLL).

* AEZS-108

o First pivotal study in endometrial cancer to be initiated;
o Phase 1/2 trial initiated in castration refractory prostate cancer at Norris Comprehensive Cancer Center - first patients treated;
o Phase 1/2 trial initiated in refractory bladder cancer at Sylvester Comprehensive Cancer Center - patients under screening;
o Further proof-of-concept studies to be initiated in pancreatic and breast cancer.
* AEZS-130 (Solorel®)
o NDA to be filed as an oral diagnostic test for growth hormone deficiency (GHD) in adults;
o Trial to be initiated as an oral diagnostic test for GHD in children;
o Proof-of-concept study to be initiated in cancer induced cachexia.
* AEZS-112, AEZS-120 and PI3K/Erk inhibitors
o Preclinical and early-stage clinical development to be pursued in oncology.

Review of ongoing late-stage clinical programs by distinguished Key Opinion Leaders

* Perifosine
o Phase 3 registration trial in metastatic colorectal cancer presented by Johanna Bendell, S.B., M.D., Director, GI Cancer Research - Associate Director, Drug Development Unit, Sarah Cannon Research Institute, Nashville;
o Phase 3 registration trial in multiple myeloma presented by Paul G. Richardson, M.D., Clinical Director, Jerome Lipper Multiple Myeloma Center, Dana-Farber Cancer Institute, Associate Professor of Medicine, Harvard Medical School, Boston.
* AEZS-108
o Phase 2 program in advanced endometrial and advanced ovarian cancer presented by David S. Miller, M.D., F.A.C.O.G., F.A.C.S., Director of Gynecologic Oncology, Dallas Foundation chair in Gynecologic Oncology, Professor of Obstetrics & Gynecology, University of Texas Southwestern Medical Center, Dallas.
* Solorel®:
o Phase 3 program as an oral diagnostic test for adult GHD presented by Beverly M.K. Biller, M.D., F.A.C.P., Professor of Medicine, Harvard Medical School, Faculty member - Neuroendocrine Unit, Massachusetts General Hospital, Boston.

2011 should be an exciting year for the Company as we will continue the late-stage development of our lead novel compounds," stated Juergen Engel, Ph.D., President and CEO at Aeterna Zentaris. "We look forward to the disclosure of Phase 3 results for perifosine in metastatic colorectal cancer, the initiation of a first pivotal trial in endometrial cancer with AEZS-108, as well as the completion of the Phase 3 trial with Solorel® in adult GHD and the NDA filing for the use as an oral diasnostic test in this indication. We will continue the preclinical and early clinical development of AEZS-112, AEZS-120 and PI3K/Erk inhibitors which could represent the way of the future in targeted cancer treatment. We feel confident that with the human and financial resources at hand, we will achieve our goals in the upcoming year for the benefit of both patients and shareholders.

A replay of the meeting is available on the Company's website in the "Newsroom" section under "Events and Webcasts" here.

I believe AEZS is ridiculously undervalued at $1.63 a share with a marketcap of just $135M. AEZS Perifosine partner Keryx Biopharma (NASDAQ:KERX) has a marketcap of $295M with a stock price of $4.83. KERX stock price recently sold off from the $5 level in part due to the CEO Ron Bentsur selling 50,000 shares at $5.01 a share. I have spoken with Ron before who fully believes in Perifosine. I assume the only reason he sold some shares was to raise general money. I would not be suprised next year to see AEZS get a buy out offer. AEZS prospects are extremely compelling. I have added to my AEZS long position and will continue to buy. Read my prior AEZS articles for more details. Simple fact is AEZS should already be trading in the $3 range.

Disclosure: I am long AEZS, KERX.