After Guggenheim and Cantor Fitzgerald gave AnaptysBio Inc (NASDAQ: ANAB) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Derek Archila reiterated a Buy rating on AnaptysBio Inc yesterday and set a price target of $124. The company’s shares opened today at $68.57.
Archila noted:
“We are reiterating our Buy rating on ANAB shares after its 4Q18 business update last week. While its been pretty quiet in terms of stock moving catalysts for ANAB since it reported its Phase 2a data for etokimab in severe eosinophilic asthma patients in September 2018, we believe the stock should begin to work ahead of several de-risking clinical catalysts expected in the 2H19. We view results from etokimab’s Phase 2b ATLAS study in moderate-to- severe atopic dermatitis (AD) as the most important in terms of catalysts as we should get a better sense of how etokimab will differentiate itself on an efficacy and tolerability basis from REGN (NC, $437.13)/SNY’s (NC, $43.12) Dupixent.”
According to TipRanks.com, Archila is ranked 0 out of 5 stars with an average return of -6.1% and a 36.4% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Selecta Biosciences.
Currently, the analyst consensus on AnaptysBio Inc is a Strong Buy with an average price target of $130, which is an 89.6% upside from current levels. In a report issued on February 22, Guggenheim also initiated coverage with a Buy rating on the stock with a $135 price target.
See today’s analyst top recommended stocks >>
Based on AnaptysBio Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.99 million. In comparison, last year the company earned revenue of $3 million and had a GAAP net loss of $6.86 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
AnaptysBio, Inc. is a clinical stage biotechnology company, which engages in developing antibody product candidates focused on unmet medical needs in inflammation. Its pipeline includes ANB020, ANB019, and checkpoint receptor agonist antibodies.
