U.S. Markets closed
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • Dow 30

    28,725.51
    -500.10 (-1.71%)
     
  • Nasdaq

    10,575.62
    -161.89 (-1.51%)
     
  • Russell 2000

    1,664.72
    -10.21 (-0.61%)
     
  • Crude Oil

    79.74
    -1.49 (-1.83%)
     
  • Gold

    1,668.30
    -0.30 (-0.02%)
     
  • Silver

    19.01
    +0.30 (+1.62%)
     
  • EUR/USD

    0.9801
    -0.0018 (-0.1862%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • Vix

    31.62
    -0.22 (-0.69%)
     
  • GBP/USD

    1.1166
    +0.0043 (+0.3841%)
     
  • USD/JPY

    144.7200
    +0.2770 (+0.1918%)
     
  • BTC-USD

    19,179.20
    -137.84 (-0.71%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • FTSE 100

    6,893.81
    +12.22 (+0.18%)
     
  • Nikkei 225

    25,937.21
    -484.84 (-1.83%)
     

Raymond James Initiates AnaptysBio With ~42% Upside, Despite Trial Setback

·1 min read
  • Raymond James initiated coverage on AnaptysBio Inc (NASDAQ: ANAB) with an Outperform rating and a $35 price target.

  • The analyst has a positive outlook on the lead asset imsidolimab in generalized pustular psoriasis (60% PoS — top-line data in 4Q23).

  • In addition to imsidolimab, AnaptysBio is developing PD-1 agonist rosnilimab in alopecia areata (AA), and the data from Phase 2 AZURE study is expected in 1Q23.

  • Related: AnaptysBio Faces Another Setback For Imsidolimab, Stalls Work In Skin Scarring Indication.

  • AnaptysBio’s another checkpoint agonist (ANB032 targeting BTLA) completed Phase 1 in healthy volunteers, and Phase 2 development could start as soon as 4Q22.

  • The analyst says that though ANB032 is not captured in the model, for now, they note some recent interest from big pharma in checkpoint agonists for autoimmune indications, and Gilead Sciences Inc (NASDAQ: GILD) acquired private MiroBio for $405 million.

  • Also ReadGilead Sciences Bets $400M On Inflammatory Diseases Focused UK Based Firm

  • MiroBio’s lead asset MB272 (BTLA agonist) is somewhat behind ANB032, while MB151 (PD-1 agonist) is still in preclinical development.

  • According to the analyst, investors may remain on the sidelines due to the binary readout for imsidolimab in hidradenitis suppurativa (HS) while the interest for checkpoint agonists is rising.

  • Price Action: ANAB shares are down 0.69% at $24.59 on the last check Friday.

Latest Ratings for ANAB

Date

Firm

Action

From

To

Mar 2022

HC Wainwright & Co.

Maintains

Buy

Jun 2021

HC Wainwright & Co.

Initiates Coverage On

Buy

May 2021

UBS

Initiates Coverage On

Neutral

View More Analyst Ratings for ANAB

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.