AnaptysBio (ANAB – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Derek Archila from Wells Fargo maintained a Buy rating on the stock and has a $51.00 price target.
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Derek Archila has given his Buy rating due to a combination of factors that highlight the potential of AnaptysBio’s rosnilimab. The recent data update from the Phase 2b trial for rheumatoid arthritis (RA) demonstrated promising efficacy and safety, with rosnilimab showing competitive results similar to JAK inhibitors. The drug exhibited a strong safety profile with minimal discontinuations and manageable side effects, which could position it favorably against existing RA treatments that have more severe safety warnings.
Additionally, the genomic data related to ulcerative colitis (UC) trials suggests a promising outlook for rosnilimab in this area as well. The management’s strategic plans, including potential partnerships or independent advancement of UC trials, indicate a proactive approach to maximizing the drug’s potential. The stock’s performance, driven by positive investor sentiment towards rosnilimab’s differentiated profile and the upcoming UC trial readout, further supports the Buy rating as the risk/reward scenario appears favorable.
In another report released on May 28, Guggenheim also reiterated a Buy rating on the stock with a $90.00 price target.
ANAB’s price has also changed slightly for the past six months – from $22.000 to $23.520, which is a 6.91% increase.