Cantor Fitzgerald analyst Eliana Merle reiterated a Buy rating on AnaptysBio Inc (NASDAQ: ANAB) today and set a price target of $124. The company’s shares closed on Friday at $92.80.
Merle said:
“. We reiterate our Overweight rating and 12-month PT of $124. We view the efficacy from the asthma topline data as positive. After a single dose, etokimab achieved results that were comparable to the results other successful asthma drugs achieved after multiple doses, which we think is a strong read for the efficacy of the asset. We are curious for more color from management on the call around the two cases of strep throat (out of n of 12) in the active arm, which we think will drive how the stock will move today. On an efficacy basis, at day 64, the FEV1 benefit over placebo went as high as 11%, which we think is impressive for a single dose study.”
AnaptysBio Inc has an analyst consensus of Strong Buy, with a price target consensus of $117.80, representing a 26.9% upside. In a report issued on September 14, Stifel Nicolaus also maintained a Buy rating on the stock with a $127 price target.
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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.
