Goldman Sachs Starts Anacor Pharmaceuticals (ANAC) at Neutral

Goldman Sachs initiated coverage on Anacor Pharmaceuticals (NASDAQ: ANAC) with a Neutral rating and a price target of $36.00.

Analyst Gary Nachman said, "We see ANAC as a very solid new product story and an attractive name in dermatology, an ideal space for specialty pharma. Our physician surveys support strong uptake for lead product Kerydin for onychomychosis, and we believe AN2728 for atopic dermatitis should be even more promising with Phase 3 data expected in 3Q15. These are both very sizable market opportunities with significant unmet need, which could make ANAC an attractive acquisition target given a lot of consolidation in dermatology. However, we are sensitive to valuation at current levels with the stock up 105% in the last five months and would look for a better entry point."

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 $31.72 yesterday.

You May Also Be Interested In

• Lake Street Capital Markets Starts Research Solutions Inc. (RSSS) at Buy
• HSBC Starts Auna SA (AUNA) at Buy, 'Just what the doctor prescribed'
• Goldman Sachs First Take on Tata Consumer Products (TGBL:IN) Earnings