Leerink Partners analyst David Risinger has maintained their bullish stance on ANAB stock, giving a Buy rating today.
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David Risinger has given his Buy rating due to a combination of factors that highlight AnaptysBio’s promising financial prospects. The strong sales growth of Jemperli, a key drug under AnaptysBio’s immuno-oncology collaboration with GSK, has been a positive indicator. The recent FDA approval expanding Jemperli’s use for all adult patients with primary advanced or recurrent endometrial cancer has driven increased uptake in the U.S., contributing to its robust performance.
Additionally, AnaptysBio’s financial arrangement with Sagard Healthcare, which involves receiving substantial royalties and milestone payments from Jemperli’s sales, further bolsters the company’s revenue potential. The expectation of Jemperli reaching significant sales levels by 2027 and the opportunity for AnaptysBio to regain full rights to future royalties after Sagard’s payment threshold is met enhance the outlook. Furthermore, ongoing developments in Jemperli’s application for other cancer types, such as non-small cell lung cancer, suggest potential for continued growth, reinforcing Risinger’s positive assessment.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $40.00 price target.
ANAB’s price has also changed dramatically for the past six months – from $32.370 to $16.060, which is a -50.39% drop .