Canaccord Genuity Reiterates a 'Buy' on Anacor Pharmaceuticals (ANAC); Further Derm Pipeline Proof-of-Concept Established
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Price: $10.19 --0%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Anacor Pharmaceuticals (NASDAQ: ANAC) price target of $11.00.
Canaccord analyst, George Farmer, said, "We reiterate our rating on ANAC shares on positive outcome from a first Phase II trial evaluating topical PDE4 inhibitors, AN2728 and AN2898, in atopic dermatitis (AD)...We value ANAC shares primarily on the potential of lead Phase III onychomycosis (toe-nail fungus) drug, tavaborole (first trial readout expected Q4/12), and 2728 in psoriasis. Potential of 2898 and 2728 in AD is not in our model at this time, but low-single-digit market penetration would provide meaningful upside if successful, in our view."
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 $5.65 yesterday.
Canaccord analyst, George Farmer, said, "We reiterate our rating on ANAC shares on positive outcome from a first Phase II trial evaluating topical PDE4 inhibitors, AN2728 and AN2898, in atopic dermatitis (AD)...We value ANAC shares primarily on the potential of lead Phase III onychomycosis (toe-nail fungus) drug, tavaborole (first trial readout expected Q4/12), and 2728 in psoriasis. Potential of 2898 and 2728 in AD is not in our model at this time, but low-single-digit market penetration would provide meaningful upside if successful, in our view."
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 $5.65 yesterday.
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