Anacor Pharmaceuticals (ANAC) PT Raised to $80 at Jefferies on Kerydin Rx Inflection, and Ahead of 2728 Readout

Jefferies analyst David Steinberg reiterated a Buy rating and boosted his price target on Anacor Pharmaceuticals (NASDAQ: ANAC) to $80.00 (from $70.00), saying recent development portend Kerydin Rx inflection. He also notes all eyes are on the readout for pivotal AN2728 Ph3 data is expected in the coming weeks.

Steinberg commented, "Kerydin continues to exceed expectations and is now annualizing ~$155M. ANAC just amended its commercialization agreement with Sandoz to include additional funding for a “multi-channel integrated marketing campaign” in 2H15. This will likely include TV ads focusing on the very large but currently untapped primary care market. As we enter July, pivotal AN2728 Ph3 data is expected in the coming weeks. Positive results could push the shares past $100."

For an analyst ratings summary and ratings history on Anacor Pharmaceuticals click here. For more ratings news on Anacor Pharmaceuticals click here.

Shares of Anacor Pharmaceuticals closed at $77.43 yesterday.

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