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Analysts at TheStreet started coverage on shares of Ambit Biosciences Corp (NASDAQ:AMBI) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the stock.

Ambit Biosciences Corp (NASDAQ:AMBI) traded down 0.30% during mid-day trading on Wednesday, hitting $6.73. 3,095 shares of the company’s stock traded hands. Ambit Biosciences Corp has a 1-year low of $5.75 and a 1-year high of $21.44. The stock’s 50-day moving average is $6.62 and its 200-day moving average is $9.0. The company’s market cap is $121.0 million.

Ambit Biosciences Corp (NASDAQ:AMBI) last announced its earnings results on Tuesday, May 6th. The company reported ($0.50) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.47) by $0.03. On average, analysts predict that Ambit Biosciences Corp will post $-2.29 earnings per share for the current fiscal year.

Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Ambit Biosciences Corp in a research note on Wednesday, May 7th. They now have a $14.00 price target on the stock, down previously from $17.00.

Ambit Biosciences Corporation is a biopharmaceutical company. The Company focused on the discovery, development and commercialization of drugs to treat unmet medical needs in oncology, autoimmune and inflammatory diseases by inhibiting kinases that are important drivers for those diseases.

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