Analyst Roy Buchanan of JMP Securities reiterated a Buy rating on AN2 Therapeutics, Inc. (ANTX – Research Report), retaining the price target of $5.00.
Roy Buchanan has given his Buy rating due to a combination of factors that highlight AN2 Therapeutics, Inc.’s promising future prospects. The company is poised to reveal the results of its Phase 3 trial for refractory MAC NTM in the next quarter, which could open up a significant market opportunity exceeding $1 billion. AN2’s financial health is robust, with approximately $89 million in cash, providing a financial runway through 2027 under current plans.
Moreover, the company’s development pipeline is strong, with a Chagas treatment candidate set to begin Phase 1 trials in mid-2025 and anticipated results from a Phase 2 study on melioidosis. Additionally, AN2 has received support from the Gates Foundation for its work on tuberculosis and malaria, and it is on track to announce oncology candidates that could be groundbreaking. These strategic advancements and financial stability underpin Buchanan’s positive outlook on AN2 Therapeutics, Inc.
Buchanan covers the Healthcare sector, focusing on stocks such as AN2 Therapeutics, Inc., Inovio Pharmaceuticals, and Arbutus Biopharma. According to TipRanks, Buchanan has an average return of -27.2% and a 26.11% success rate on recommended stocks.