In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Aimmune Therapeutics (AIMT), with a price target of $45. The company’s shares closed yesterday at $19.97, close to its 52-week low of $19.25.
Duncan observed:
“. We reiterate our Overweight rating and 12-month PT of $45 per share of AIMT. Aimmune reported 1Q19 financial performance, ending the period with cash of $296M (potential access to an additional $130 million via KKR on US approval). Our model projects funding through several clin/reg milestones, including approval and initial commercialization of AR101 in the US & E.U. Based on recent diligence at AAAAI’19, we believe a market inefficiency exists for AR-101’s potential to be approved, experience robust early adoption, and transform the treatment of peanut allergy (PA).”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.9% and a 49.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
Currently, the analyst consensus on Aimmune Therapeutics is a Strong Buy with an average price target of $57.43.
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Based on Aimmune Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $57 million. In comparison, last year the company had a GAAP net loss of $49.5 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.
