“. We reiterate our OW rating and $124 12-mo. PT on ANAB. First clinical data of an IL36R inhibitor in patients presented at EADV Congress a positive read-through to ANAB’s IL36R program. Anaptys’s second wholly owned clinical stage asset, ANB019, is an IL36R inhibitor in development for rare forms of psoriasis. Data over the weekend from a competitor program, BI 655130, showed that IL36R inhibition can lead to clinically meaningful improvement in GPP (Generalized Pustular Psoriasis). We think this de-risks the IL36R mechanism ahead of initial patient data from ANB019 in GPP in early ’19.”
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AnaptysBio Inc with a $117.80 average price target, representing a 36.8% upside. In a report issued on September 14, Stifel Nicolaus also maintained a Buy rating on the stock with a $127 price target.
Based on AnaptysBio Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.62 million. In comparison, last year the company earned revenue of $7 million and had a GAAP net loss of $2.68 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.