TD Cowen analyst Joseph Thome has maintained their bullish stance on ANAB stock, giving a Buy rating on July 24.
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Joseph Thome has given his Buy rating due to a combination of factors related to AnaptysBio’s promising pipeline and strategic developments. The company has shown positive results from its Phase II trial of rosnilimab in rheumatoid arthritis, achieving primary and secondary endpoints with durable responses in patients. This success shifts focus to the upcoming Phase II trial data for rosnilimab in ulcerative colitis, expected in the fourth quarter, which could further validate the drug’s potential in addressing high unmet needs in this area.
Additionally, AnaptysBio’s decision to target celiac disease as the initial indication for its ANB033 candidate adds another layer of potential growth. The ongoing enrollment in a Phase Ia study and the planned Phase Ib cohort in celiac disease demonstrate the company’s commitment to expanding its therapeutic offerings. With shares trading at a significant discount and ongoing discussions for potential partnerships, Thome sees a favorable risk-reward profile for AnaptysBio, justifying the Buy rating.
In another report released on July 24, J.P. Morgan also maintained a Buy rating on the stock with a $80.00 price target.