AnaptysBio initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of AnaptysBio with an Overweight rating and $80 price target. AnaptysBio is a clinical stage biotech company entering a “catalyst rich” 2024 and 2025 with four assets in development and two partnered with GSK, “providing it with an influx of cash to support operations,” the analyst tells investors in a research note. The firm believes this proves the company’s track record of taking molecules from discovery to approval with high probability of sucess.