Stifel initiated coverage of AnaptysBio with a Buy rating and $50 price target. The firm believes that immune cell modulation represents “a key part of the evolution in the treatment paradigm of autoimmune disease” and calls AnaptysBio “uniquely positioned” with two ongoing Phase 2b studies for lead PD-1 and BTLA agonist programs in Rheumatoid Arthritis, or RA, and Atopic Dermatitis, or AD, which are set to read out in mid-2025 and by year-end 2024, respectively.
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