Ambit Biosciences (AMBI +1.3%) moves up on a number of upbeat initiations by the Street as it...

|About: Ambit Biosciences Corp (AMBI)|By:, SA News Editor

Ambit Biosciences (AMBI +1.3%) moves up on a number of upbeat initiations by the Street as it comes out of its quiet period. Baird, BMO and Leerink all start the shares with an Outperform, while Citigroup initiates coverage with a Buy. Notably, Leerink's Howard Liang says that it sees AMBI's quizartinib as the best-in-class FLT3 inhibitor, which currently represents the mainstay for targeted therapy for acute myeloid leukemia.