AnaptysBio initiated with an Outperform at Wolfe Research

Wolfe Research analyst Andy Chen initiated coverage of AnaptysBio (ANAB) with an Outperform rating and $25 price target The stock’s current valuation is attractive for a potential shot on goal in rheumatoid arthritis – RA – a field with limited innovation in many years despite modest efficacy with most agents, the analyst tells investors in a research note. Wolfe adds that currently, the stock is likely trading below its deserved valuation due to a negative halo lingering after the December 2024 termination of the BTLA asset in phase 2 atopic dermatitis, but the firm is bullish into two near-term readouts with rosnilimab Week 12 RA topline expected in February and Week 28 RA topline expected in Q2.