AnaptysBio’s Promising Phase 2 Trial Results and Strategic Plans Lead to Stock Upgrade

In a report released today, Emily Bodnar from H.C. Wainwright upgraded AnaptysBio (ANAB – Research Report) to a Buy, with a price target of $38.00.

Emily Bodnar’s rating is based on the promising results from AnaptysBio’s Phase 2 rheumatoid arthritis trial, which demonstrated high maintenance of CDAI LDA and ACR responses, even during off-treatment periods. The trial successfully met its primary endpoint, with a significant percentage of patients achieving low disease activity at Week 14 and maintaining it through Week 28. The data revealed that rosnilimab, the drug under evaluation, showed potential long-term benefits in managing rheumatoid arthritis beyond mere symptom relief.
Furthermore, the company is exploring the possibility of a Q8W maintenance regimen, which could enhance the drug’s impact. AnaptysBio’s strategy to await ulcerative colitis data before deciding on a global partnership or internal advancement for Phase 3 trials adds to the positive outlook. The overall positive data from the trial and the strategic plans for future studies have led to an upgrade in the stock rating to Buy, with a price target of $38.

In another report released yesterday, Wells Fargo also assigned a Buy rating to the stock with a $51.00 price target.