Stifel Nicolaus Reiterates Their Hold Rating on Aimmune Therapeutics (AIMT)

Stifel Nicolaus analyst Derek Archila reiterated a Hold rating on Aimmune Therapeutics (AIMTResearch Report) today and set a price target of $24. The company’s shares opened today at $18.86, close to its 52-week low of $16.95.

Archila wrote:

“We are reiterating our Hold rating on AIMT shares after the company reported its 2Q19 financials and business update. In the near-term, the company’s upcoming Adcom scheduled for September 13, 2019 is a binary catalyst for the stock where we think the panel will largely focus on AR101’s safety profile. Despite the pull back in shares, we think the risk/reward is slightly skewed to the downside if the panel is negative (+30% / -50%) and prefer to be on the sidelines into the event. The FDA usually has a high safety standard for preventative therapies and, without any briefing documents (expected right before the adcom) to provide additional color, we think it’s hard to get an edge ahead of the event right now. Longer-term, based on our checks with physicians and payers, we continue to remain cautious on the potential peanut immunotherapy category as a whole.”

According to TipRanks.com, Archila ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.7% and a 28.1% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Madrigal Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Aimmune Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $46.14.

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Based on Aimmune Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $54.27 million. In comparison, last year the company had a GAAP net loss of $52.55 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.