In a report released yesterday, Charles Duncan from Cantor Fitzgerald initiated coverage with a Buy rating on Aimmune Therapeutics (AIMT) and a price target of $64. The company’s shares closed on Friday at $23.75, close to its 52-week low of $23.15.
Duncan said:
“. We are assuming coverage of AIMT with an Overweight rating and a 12-month PT of $64 based on lead asset AR101 in peanut allergy. Given the growing unmet clinical need in PA, ‘101 has Track designations, and we believe a high regulatory PoS exists based on data from the P3 PALISADE study. Full study data were recently published in the NEJM, validating the results and further enhancing our conviction given the notably reduced use of rescue epinephrine during the DBPCFC and limited use during updosing.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.8% and a 42.1% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Aimmune Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $59.50, representing a 150.5% upside. In a report issued on November 19, Roth Capital also maintained a Buy rating on the stock with a $80 price target.
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Based on Aimmune Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $51.7 million. In comparison, last year the company had a GAAP net loss of $31.79 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is neutral on the stock.
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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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