H.C. Wainwright analyst Emily Bodnar maintained a Hold rating on AnaptysBio (ANAB – Research Report) today and set a price target of $22.00.
Emily Bodnar’s rating is based on several factors surrounding AnaptysBio’s current clinical trials and strategic decisions. The company is progressing with its rheumatoid arthritis (RA) treatment, rosnilimab, but the data from the ongoing Phase 2 trial is not expected to be a significant catalyst for the stock. While the results at Week 28 have shown sustained efficacy similar to earlier data, the incremental nature of this update limits its impact on the stock’s outlook.
Furthermore, AnaptysBio’s decision to not advance the RA program into Phase 3 without a partner adds uncertainty to the timeline and potential success of the treatment. Additionally, the company’s focus on ulcerative colitis (UC) with rosnilimab, despite being an unvalidated indication, suggests a cautious approach. The UC trial, which is still in early stages, will be crucial for determining the future of the rosnilimab program. These factors collectively contribute to the Hold rating, reflecting a wait-and-see stance until more decisive data is available.
In another report released on February 12, Truist Financial also maintained a Hold rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 34 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.