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Shares of Ambit Biosciences Corp (NASDAQ:AMBI) hit a new 52-week low during trading on Thursday , Analyst RN reports. The company traded as low as $5.67 and last traded at $5.82, with a volume of 57,108 shares traded. The stock had previously closed at $5.94.

AMBI has been the subject of a number of recent research reports. Analysts at TheStreet initiated coverage on shares of Ambit Biosciences Corp in a research note on Wednesday, June 18th. They set a “sell” rating on the stock. 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.

The stock’s 50-day moving average is $6.74 and its 200-day moving average is $8.72. The company’s market cap is $105.0 million.

Ambit Biosciences Corp (NASDAQ:AMBI) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.50) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.47) by $0.03. Analysts expect that Ambit Biosciences Corp will post $-2.29 EPS for the current fiscal year.

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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