Wells Fargo raised the firm’s price target on AnaptysBio (ANAB) to $51 from $40 and keeps an Overweight rating on the shares. The firm believes rosnilimab’s positive data in rheumatoid arthritis suggests activity enough to de-risk a future Phase 3 and also its upcoming Phase 2b read out in ulcerative colitis expected in Q4 2025 — its probability of success moves up. While there remain debate points on the rheumatoid arthritis data, shares can work from here, Wells adds.
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