Benchmark Reiterates Speculative Buy Rating on Anebulo Pharmaceuticals (ANEB)

Benchmark analyst Robert Wasserman reiterated a Speculative Buy rating and $8.00 price target on Anebulo Pharmaceuticals (NASDAQ: ANEB).

The analyst commented: "Anebulo Pharmaceuticals reported financial results for their 4Q24 (June) and provided a corporate update on their product pipeline. With the award of a $1.9 million two-year cooperative grant from the National Institute of Drug Abuse (NIDA), Anebulo is focusing on the scale-up of its intravenous (IV) formulation of selonabant to treat acute cannabis poisoning. The company intends to complete IND-enabling activities for IV selonabant by the end of 2024 and enroll first patients in a healthy volunteer study next year. For the fiscal year ending June 2024, Anebulo reported a net loss of $8.2 million or ($0.32) per share, as compared to a net loss of $11.7 million or ($0.47) per share in fiscal 2023. We are maintaining our Speculative Buy rating and $8 price target on ANEB shares."

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

Shares of Anebulo Pharmaceuticals closed at $1.93 yesterday.

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