With the third-quarter earnings extravaganza nearing the end, and the market focused on this Friday’s big nonfarm payroll job report, now could be a great time for investors to reset their portfolios for the final two trading months of 2015. While some see the potential for some near-term volatility, most believe that the market will follow the historical path and rally into year end.
A new research report from Jefferies is focused on growth stock calls that have significant upside lying in front of the stocks. While certain companies remain favorites at the firm, some others are new to the list this week. We found four that could offer investors solid near-term upside potential.
This company has been hit hard as upheavals in the specialty pharmaceutical area have proved damaging to all. Anacor Pharmaceuticals Inc. (NASDAQ: ANAC) is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform.
Anacor’s first approved drug, Kerydin (tavaborole) topical solution, 5%, is an oxaborole antifungal approved by the U.S. Food and Drug Administration (FDA) in July 2014 for the topical treatment of onychomycosis of the toenails. In July 2014, Anacor entered into an exclusive agreement with Sandoz, a Novartis company, pursuant to which PharmaDerm, the branded dermatology division of Sandoz, distributes and commercializes Kerydin in the United States.
Anacor’s lead product development candidate is Crisaborole, an investigational non-steroidal topical PDE-4 inhibitor for the potential treatment of mild-to-moderate atopic dermatitis and psoriasis. The company just released positive top-line results from its long-term safety study for Crisaborole and they were very positive. Beyond Kerydin and Crisaborole, Anacor has discovered three investigational compounds that it has out-licensed for further development.
Jefferies remains positive on the Crisaborole prospects and moved pricing up by 29% back in the summer as its checks reveal that branded prices for Elidel/Protopic have steadily increased.
The Jefferies price target for the stock is $171. The Thomson/First Call consensus target is $175.25. The shares closed up over 7% Friday at $112.41.