JMP Securities upgraded AN2 Therapeutics to Outperform from Market Perform with a $6 price target. The analyst says meeting with the FDA and the Phase 2 results should provide a clearer path forward for epetraborole. The firm sees “multiple possible paths forward” for AN2 that suggest it is undervalued at current levels. It views epetraborole’s future as risky, but believes it adequately reflects this with a 25% probability of approval estimate.
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