AnaptysBio initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Emily Bodnar initiated coverage of AnaptysBio with a Buy rating and $55 price target. The company has checkpoint inhibitor agonists for the treatment of immunology indications with high potential market opportunities, the analyst tells investors in a research note. The firm says that while while peresolimab in the treatment of rheumatoid arthritis has shown encouraging results, there may still be potential for improved agonist potency given the importance of Fc receptor crosslinking and rosnilimab’s ability to bind to a membrane proximal epitope compared to peresolimab which binds to a membrane distal epitope.