Wells Fargo analyst Derek Archila lowered the firm’s price target on AnaptysBio (ANAB) to $40 from $56 and keeps an Overweight rating on the shares. The firm notes shares are trading down on the news that ANB032’s Phase 2b in AD failed, in line with Wells bear case scenario. With shares now trading at cash, and rosnilimab’s Phase 2 data in RA about 50-80 days away, the firm likes the risk/reward into that event and remains a buyer at these levels.
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