AnaptysBio price target raised to $90 from $85 at Leerink

Leerink raised the firm’s price target on AnaptysBio (ANAB) to $90 from $85 and keeps an Outperform rating on the shares. Although Q1 Jemperli collaboration revenue was below expectations, the firm reiterates its bullish view on AnaptysBio shares ahead of the GSK (GSK) dispute July 14-17 court date. AnaptysBio’s Jemperli dispute centers on GSK’s alleged failure to seek optimum commercial return” and breaches of exclusivity. Leerink continues to anticipate a material positive resolution in favor of AnaptysBio.