Wedbush upgrades AnaptysBio to Outperform into clinical catalysts

Wedbush upgraded AnaptysBio (ANAB) to Outperform from Neutral with a price target of $34, up from $20. The analyst believes a series of derivative and the company’s own clinical catalysts will drive shares higher over the next year. AnaptysBio maintained guidance for Phase 2 data for its BTLA inhibitor ANB032 in atopic dermatitis patients and Phase 2b data for rosnilimab, its PD-1 agonist, in rheumatoid arthritis in mid-2025, the analyst tells investors in a research note. And before these results are reported those results, firm expects a derivative catalyst from chief competitor in the PD-1 agonist space, Eli Lilly (LLY). Wedbush thinks rosnilimab can achieve best-in-class efficacy on the basis of its targeted epitope.