In a report released today, Eliana Merle from Cantor Fitzgerald maintained a Buy rating on AnaptysBio Inc (ANAB), with a price target of $140. The company’s shares opened today at $77.19.
“. $140 price target. We think today’s TSRO acquisition by GSK is a positive read-through for ANAB. TSRO licensed its immuno-oncology assets from ANAB. ANAB is eligible to receive milestones up to $1.1B and mid to high single digit tiered royalties from these IO assets (PD1, TIM3 and LAG3). ANAB shares are currently down ~6% (vs. NBI up 1%) and we see no fundamental reason for the weakness. We think having more capital behind the development of the IO franchise should increase confidence in the outlook for these assets and the potential value of the royalty streams.”
According to TipRanks.com, Merle is a 1-star analyst with an average return of -3.9% and a 25.0% success rate. Merle covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, BioMarin, and ProQR.
Currently, the analyst consensus on AnaptysBio Inc is a Strong Buy with an average price target of $137.83, implying a 78.6% upside from current levels. In a report issued on November 21, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $115 price target.
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Based on AnaptysBio Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5 million and GAAP net loss of $15.96 million. In comparison, last year the company had a GAAP net loss of $9.09 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANAB in relation to earlier this year.
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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.