I can not find a source for this price target from Zacks. I also know that Zacks accepts money from micro cap companies to write about/set a price target on their stock. Take anything they write lightly.
Prana has a pretty serious burn rate for having no active clinical trials. Over 29.1 million on 12/31/15 became $24.8 in only 3 months. 4.3 million AUD spent in 3 months. I wouldn't consider their cash position strong if this burn rate continues. 17 million AUD would be spent by the end of the calendar year. Maybe it will decrease, maybe it will increase, maybe it will stay the same. But if you're expecting to see another trial they will be very short on funds.
I would look to see them raising money by Fall. They are in a weak position to raise money in their usual manner. The stock has almost no liquidity, it could not absorb ATM shares being unloaded. You might think they would sell into good news but Kempler opted to not sell ATM shares when the stock was $7-12 for various reasons. I think he may apply the same flawed logic in the future.
I believe my math is correct. You should specify (like I did) AUD or USD Fiscal year 2015 Prana burned 17.8 million AUD. Divide that by 4. What time frame are you averaging to reach 2.5?
Also, from the end of year report: The Group’s cash on hand as at 31 December, 2015 totaled A$29.1 million. In addition, the Group has recorded a Trade Receivable at 31 December, 2015 in the amount of A$9.24 million from the Australian Tax Office. This amount comprises of A$6.46 million in respect of its 2015 R&D tax incentive claim and A$2.78 million in respect of its 2016 R&D tax incentive claim.
So 29.1 million - 24.8 million is 4.3 million AUD, that is was a 3 month span.
I agree about him being the most legit guy. That is not Tanzi's fight though, consider his roll to the company (SA). I'm sure Tanzi concerned about his image, that kind of allegation being thrown around would probably just cause him headaches.