UBS raised the firm’s price target on AnaptysBio (ANAB) to $90 from $70 and keeps a Buy rating on the shares. Valuation for the company breaks down to roughly $35-$40 for the royalty business and $45-$50 for the biopharma segment, with interest driven by pipeline upside, particularly the CD122 antagonist ANB033 in celiac disease, which could become a blockbuster and materially lift the stock, the analyst tells investors in a research note.
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