Truist raised the firm’s price target on AnaptysBio (ANAB) to $50 from $36 and keeps a Hold rating on the shares. The firm is updating its target to reflect the company’s Q4 update that pulled forward the timing of the spin-off to late April, the analyst tells investors in a research note. AnaptysBio Q4 revenue beat was also mostly Jemperli milestone driven, Truist notes, adding however that its hold rating is due to poor pipeline outlook and GSK (GSK)/Tesaro suit overhang.
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