Truist analyst Joon Lee raised the firm’s price target on AnaptysBio (ANAB) to $36 from $20 and keeps a Hold rating on the shares. The company’s Q3 benefitted from $50M in Jemperli milestones and growing royalties, with another $75M in milestones expected in Q4, the analyst tells investors in a research note. Near-term catalysts for the stock include Phase 2 UC update in November-December and Vanda’s (VNDA) imsidolimab BLA submission in Q4 for GPP, which is tied to milestones for AnaptysBio, the firm added.
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