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Anacor Pharmaceuticals (NASDAQ:ANAC)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a report issued on Tuesday, Analyst RN reports. They currently have a $24.00 target price on the stock. Jefferies Group’s price objective would suggest a potential upside of 46.97% from the stock’s previous close.

Shares of Anacor Pharmaceuticals (NASDAQ:ANAC) traded up 6.73% during mid-day trading on Tuesday, hitting $16.33. 423,285 shares of the company’s stock traded hands. Anacor Pharmaceuticals has a one year low of $4.83 and a one year high of $23.07. The stock has a 50-day moving average of $18.52 and a 200-day moving average of $16.93. The company has a market cap of $683.2 million and a P/E ratio of 7.29.

Anacor Pharmaceuticals (NASDAQ:ANAC) last released its earnings data on Thursday, March 13th. The company reported $3.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.39) by $3.40. The company had revenue of $8.50 million for the quarter, compared to the consensus estimate of $2.85 million. During the same quarter in the prior year, the company posted ($0.36) earnings per share. The company’s quarterly revenue was up 157.6% on a year-over-year basis. Analysts expect that Anacor Pharmaceuticals will post $-1.72 EPS for the current fiscal year.

Separately, analysts at TheStreet upgraded shares of Anacor Pharmaceuticals from a “sell” rating to a “buy” rating in a research note on Monday, March 17th. Four analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $24.25.

Anacor Pharmaceuticals Inc is a United States-based biopharmaceutical company focused on discovering, developing and commercializing small-molecule therapeutics derived from its boron chemistry platform.

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