J.P. Morgan analyst Anupam Rama has reiterated their bullish stance on ANAB stock, giving a Buy rating today.
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Anupam Rama has given his Buy rating due to a combination of factors surrounding AnaptysBio’s strategic initiatives and potential revenue streams. The company’s decision to split into two separate entities, Royalty Management Co and Biopharma Co, is seen as a strategic move to maximize value from distinct business operations. Royalty Management Co will benefit from significant royalty streams, particularly from GSK’s Jemperli, which is expected to generate substantial sales and royalties for AnaptysBio.
Additionally, Biopharma Co’s focus on developing and commercializing promising assets like rosnilimab, ANB033, and ANB101 is anticipated to drive long-term growth. The upcoming phase 2 readout of rosnilimab in ulcerative colitis is a critical milestone, with positive outcomes potentially enhancing the company’s valuation. The anticipated capital sufficiency for Biopharma Co to fund operations for at least two years further supports the Buy rating, as it indicates financial stability and capacity for continued development efforts.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $57.00 price target.