AnaptysBio price target lowered to $60 from $90 at UBS

UBS lowered the firm’s price target on AnaptysBio (ANAB) to $60 from $90 and keeps a Buy rating on the shares. Following the spin-off of its biopharma business into First Tracks Biotherapeutics (TRAX), AnaptysBio is now a pure-play royalty company focused on income from GSK‘s (GSK) Jemperli and Vanda’s (VNDA) imsidolimab, the analyst tells investors in a research note. With a streamlined structure and minimal infrastructure, the shares are expected to trade primarily on royalty value, with upside driven by strong momentum in Jemperli, which is exiting 2025 at a $1.4B run rate, the firm says.