TD Cowen analyst Joseph Thome has maintained their bullish stance on ANAB stock, giving a Buy rating on October 29.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Joseph Thome has given his Buy rating due to a combination of factors including AnaptysBio’s strategic decision to split into two separate entities, which aims to enhance value and operational flexibility. The split will create a biopharma company focused on clinical pipeline assets and a royalty management company, with positive investor feedback supporting this move. Additionally, the strong commercial performance of Jemperli, with significant sales and anticipated milestones, adds to the company’s financial prospects.
Furthermore, the upcoming topline data from the Phase II trial of rosnilimab in ulcerative colitis (UC) is a key focus. The trial, which is fully enrolled, aims to demonstrate symptomatic improvement and potential differentiation from existing treatments. Previous data from a Phase II trial in rheumatoid arthritis (RA) showed promising efficacy and safety, bolstering optimism for the UC trial results. These strategic and clinical developments contribute to the positive outlook and Buy rating for AnaptysBio.
Thome covers the Healthcare sector, focusing on stocks such as United Therapeutics, AnaptysBio, and Alkermes. According to TipRanks, Thome has an average return of 20.6% and a 56.00% success rate on recommended stocks.
In another report released on October 29, Stifel Nicolaus also maintained a Buy rating on the stock with a $80.00 price target.