H.C. Wainwright analyst Emily Bodnar maintained a Hold rating on AnaptysBio (ANAB – Research Report) today and set a price target of $22.00.
Emily Bodnar’s rating is based on several factors related to AnaptysBio’s recent clinical trial data and market position. The company recently reported its first-quarter earnings and provided updates on its ongoing clinical trials, particularly focusing on rosnilimab, an antibody treatment for rheumatoid arthritis. While the initial data from the Phase 2b trial showed comparable results to a competitor’s treatment, the ongoing analysis and upcoming data releases are crucial for a more definitive assessment of its efficacy.
Despite some promising aspects, there are uncertainties surrounding the trial outcomes, as a significant portion of patients have not yet been reported on for the Week 28 results. Additionally, the discontinuation of a similar treatment by a competitor due to inconsistent trial results adds a layer of caution. These factors contribute to a Hold rating, as further data is needed to determine the long-term potential and competitive positioning of AnaptysBio’s treatment in the market.