Stifel Reiterates Buy Rating on AnaptysBio (ANAB)

Stifel analyst Alex Thompson reiterated a Buy rating and $55.00 price target on AnaptysBio (NASDAQ: ANAB).

The analyst comments "ANAB reported full 28wk results from the Rosnilimab Ph2b Rheumatoid Arthritis (RA) study. Rosnilimab continues to look highlyactive with efficacy competitive with the most potent 2L+ agents (i.e. JAKs). Most convincingly, maintenance of CDAI LDA among responders after 14wks is robust with some patents maintaining LDA 10wks post dosing. While it's fair to quibble with the idiosyncrasies of the trial that precluded placebo cross-over and may limit direct cross-trial comparison, we think that in totality, the data support a highly active/competitive drug moving into Ph3 and differentiation vs. first-gen agonist/depleters from LLY and JNJ '4703 can be traced to the greater depletion of PD-1+ T-cells. On safety, there remain open questions around the long-term impacts of PD-1 agonism but so far discontinuation rates due to AEs remain low (<5%). Looking ahead, the key focus remains on upcoming UC data in 4Q25 which will enable decision-making on a strategic path forward."

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Shares of AnaptysBio closed at $23.52 yesterday.

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