Anacor Pharmaceuticals Inc (NASDAQ:ANAC) on Watch

[Business Wire] Anacor Pharmaceuticals Inc (NASDAQ:ANAC)(TREND ANALYSIS) announced preliminary top-line results from its two Phase 3 pivotal studies of Crisaborole Topical Ointment, 2% (formerly AN2728), a novel non-steroidal topical anti-inflammatory phosphodiesterase-4 (PDE-4) inhibitor in development for the potential treatment of mild-to-moderate atopic dermatitis in children and adults. In both studies, crisaborole achieved statistically significant results on all primary and secondary endpoints and demonstrated a safety profile consistent with previous studies.

“We are extremely pleased by the top-line results from our Phase 3 pivotal studies of crisaborole. We believe there is a significant unmet medical need for a novel non-steroidal topical anti-inflammatory treatment option for the patients who are affected by mild-to-moderate atopic dermatitis,” said Paul L. Berns, Chairman and Chief Executive Officer of Anacor. “We also want to extend a special thanks to the clinical investigators who conducted the studies and the patients and their families who volunteered to participate in our studies. We currently plan to file a New Drug Application for crisaborole in the first half of 2016 and, if approved, we believe crisaborole could offer an important treatment option for patients with mild-to-moderate atopic dermatitis.”

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Anacor Pharmaceuticals Inc (NASDAQ:ANAC) stock is currently trading 0.71% below its 52-week-high, 802.92% above its 52-week-low. The 1-year stock price history is in the range of $16.11 – $146.5. Anacor Pharmaceuticals Inc (ANAC) has a price to book ratio of 83.63 versus Healthcare sector average of 139. ANAC stock price has outperformed the Nasdaq by 342.4%. The Medical Drugs company is currently valued at $6.36 billion and its share price closed the last trading session at $145.46. The stock has a 50-day moving average of $82.84 and a 200-day moving average of $58.15.

Anacor Pharmaceuticals Inc (ANAC) current short interest stands at 3.89 million shares. It has increased by 8% from the same period of last month. Around 12% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.89 million shares, the number of days required to cover the short positions stand at 2.1 days.

The company is expected to announce next quarter earnings on August 06, at consensus estimate of $-0.28. Anacor Pharmaceuticals Inc (ANAC) reported last quarter earnings on May 06. The Medical Drugs company announced earnings per share of $-0.3 against a consensus Street estimate of $-0.47, beating the average estimate by $0.17. This corresponds to an increase of $0.04 compared to the same quarter of the previous fiscal year.

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There are currently five analysts that cover Anacor Pharmaceuticals Inc stock. Of those five, four have a Buy rating, one has a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $124.

A recent analyst activity consisted of Jefferies reiterating their Buy stance on July 14. Jefferies increased their price target on ANAC from $80 to $171. This corresponds to a 17.56% upside from the last closing price. On the date of report, the stock closed at $126.67.

Wedbush reiterated their Outperform stance on July 13, and increased their price target on ANAC stock from $85 to $190. This corresponds to a 30.62% upside from the last closing price. On the date of report, the stock closed at $131.93.

Company profile

Anacor Pharmaceuticals Inc. is a biopharmaceutical company developing small-molecule therapeutics derived from our boron chemistry platform. The Company is focused on developing topical applications to treat fungal, bacterial and inflammatory diseases.

Anacor Pharmaceuticals Inc (NASDAQ:ANAC) on Watch was last modified: July 20th, 2015 by Eric Hanson