Canaccord Genuity Reiterates a 'Buy' on Anacor Pharmaceuticals (ANAC); Potential From Novel Dermatologic Drug Development Pipeline.
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Price: $5.18 -0.38%
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
5 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
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Canaccord Genuity reiterates a 'Buy' on Anacor Pharmaceuticals (NASDAQ: ANAC) price target of $11.00.
Analyst, George Farmer, said, "We reiterate our rating on ANAC shares on potential of the company’s novel dermatologic drug development pipeline...Two fully enrolled pivotal trials mature evaluating lead onychomycosis drug candidate tavaborole, from which data is expected Q4/12 and Q1/13. Per management, subject compliance remains high, with a drop rate way below designed expectations so far."
"Q4/11 cash of $51M plus $20M from a Q1/12 equity financing supports management guidance of at least $25M by year-end. We model for sufficient cash into the two Phase III tavaborole and all AD Phase II read-outs into H2/13."
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 $5.59 yesterday, with a 52 week range of $3.71-$7.55.
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Analyst, George Farmer, said, "We reiterate our rating on ANAC shares on potential of the company’s novel dermatologic drug development pipeline...Two fully enrolled pivotal trials mature evaluating lead onychomycosis drug candidate tavaborole, from which data is expected Q4/12 and Q1/13. Per management, subject compliance remains high, with a drop rate way below designed expectations so far."
"Q4/11 cash of $51M plus $20M from a Q1/12 equity financing supports management guidance of at least $25M by year-end. We model for sufficient cash into the two Phase III tavaborole and all AD Phase II read-outs into H2/13."
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 $5.59 yesterday, with a 52 week range of $3.71-$7.55.
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