After H.C. Wainwright 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 maintained a Buy rating on AnaptysBio Inc today and set a price target of $124. The company’s shares opened today at $75.72.
Archila wrote:
“We think ANB019 is mechanistically de-risked in both GPP and PPP based on our diligence on IL-36 biology. ANB019 is an IL-36RA that competitively binds to the IL-36 receptor to prevent downstream pro- inflammatory effects from IL-36 cytokines. In both GPP and PPP, IL-36 cytokines are left unchecked as either a patient’s natural IL-36RA is dysfunctional (GPP) or there is an increase in secretion of IL-36 cytokines (PPP), which in some cases can be due to a genetic variant. Both indications are largely treated with steroids or retinoids/methotrexate as first-line therapy though, most patients are put on biologic therapy and do reasonably well. KOLs we spoke with believe ~15-35% and ~50% of PPP and GPP patients, respectively, could be candidates for a therapy like ANB019.”
According to TipRanks.com, Archila has 0 stars on 0-5 star ranking scale with an average return of -7.1% and a 33.6% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Pacira Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AnaptysBio Inc with a $130 average price target, which is a 71.7% upside from current levels. In a report issued on March 26, Cantor Fitzgerald also maintained a Buy rating on the stock with a $140 price target.
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The company has a one-year high of $110 and a one-year low of $54.26. Currently, AnaptysBio Inc has an average volume of 271K.
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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.
