TD Cowen analyst Joseph Thome has maintained their bullish stance on ANAB stock, giving a Buy rating today.
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Joseph Thome has given his Buy rating due to a combination of factors related to AnaptysBio’s recent developments and strategic plans. The company is set to present comprehensive data from its Phase IIb trial of rosnilimab in rheumatoid arthritis at an upcoming conference, which has been recognized as a late-breaking presentation. This acknowledgment is seen as a positive indicator of the drug’s potential, especially since the trial met its primary endpoint and showed durable benefits in key measures. Additionally, updated safety data revealed no serious adverse effects, enhancing the drug’s profile.
Furthermore, Thome’s rating considers AnaptysBio’s strategic decision to separate into a biopharma and a royalty business by the end of 2026. This move is expected to optimize the company’s focus and financial performance. The updated valuation of the Jemperli royalty stream, influenced by recent business strength and GSK’s management expectations, also contributes to the Buy rating. The projected peak sales and the net present value of this opportunity suggest a significant financial upside, reinforcing the positive outlook for AnaptysBio’s stock.
Thome covers the Healthcare sector, focusing on stocks such as United Therapeutics, PTC Therapeutics, and uniQure. According to TipRanks, Thome has an average return of 22.7% and a 55.87% success rate on recommended stocks.
In another report released today, Barclays also initiated coverage with a Buy rating on the stock with a $78.00 price target.