Analyst David Risinger of Leerink Partners reiterated a Buy rating on AnaptysBio, with a price target of $32.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
David Risinger has given his Buy rating due to a combination of factors including AnaptysBio’s promising pipeline developments and financial performance. The company reported second-quarter earnings that were close to expectations, with total revenue slightly below the firm’s estimate but significantly above consensus. Notably, AnaptysBio’s R&D expenses were managed efficiently, remaining below consensus expectations, which is a positive indicator of operational control.
Furthermore, the company’s strategic advancements in its pipeline, such as the ANB033 candidate targeting celiac disease and the completion of the Rosnilimab Phase 2b trial for rheumatoid arthritis, demonstrate potential for future growth. Additionally, AnaptysBio’s financial stability is underscored by its substantial cash reserves and a stock repurchase program, which reflects confidence in its financial health. These factors collectively support the optimistic outlook and justify the Buy rating.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $38.00 price target.