In a report released yesterday, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Aimmune Therapeutics (AIMT), with a price target of $62. The company’s shares closed yesterday at $28.25.
“: We reiterate our Overweight rating and $62 PT for AIMT stock. In our view, results of clinical testing convincingly support the belief that AR101 is safe and that it produces robust desensitization to peanut protein. If approved, we believe the product will become an important therapy to address that serious unmet medical need and will be eagerly embraced by the patient and physician communities. Important, too, is that successful development and commercialization should validate AIMT’s CODIT technology platform and might compel the market to consider the value of therapies for egg and for walnut allergy, the filing of INDs for which are expected to occur in 2018 and 2019, respectively.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 1.1% and a 42.0% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Evofem Biosciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aimmune Therapeutics with a $57.83 average price target.
Based on Aimmune Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $52.55 million. In comparison, last year the company had a GAAP net loss of $31.79 million.
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Aimmune Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the research and development of desensitization treatments for peanut and other food allergies. Its portfolio includes the characterized oral desensitization immunotherapy system. The company was founded on June 24, 2011 and is headquartered in Brisbane, CA.
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