TD Cowen analyst Joseph Thome has maintained their bullish stance on ANAB stock, giving a Buy rating on February 20.
Joseph Thome has given his Buy rating due to a combination of factors, primarily centering on AnaptysBio’s promising clinical trial results and financial position. The company’s Phase II trial of rosnilimab for rheumatoid arthritis (RA) not only met its primary endpoint but also showed significant improvements on secondary endpoints, outperforming existing treatments. This success has bolstered confidence in the drug’s potential, with additional data expected to further support its efficacy.
Moreover, AnaptysBio is set to release further data from its ulcerative colitis trial later in the year, which could enhance the drug’s profile. The company’s strategic decision to wait for comprehensive data from both RA and ulcerative colitis trials before advancing to Phase III demonstrates a cautious yet optimistic approach. Additionally, AnaptysBio’s financial health, with a substantial cash balance, supports its ongoing research and development efforts, making it a compelling investment opportunity according to Thome.