Maryland reaches $340 million Conowingo Dam agreement with Constellation
Investing.com - Leerink Partners raised its price target on AnaptysBio (NASDAQ:ANAB) to $37.00 from $32.00 on Tuesday, while maintaining an Outperform rating on the stock. The stock has shown strong momentum, gaining 11% in the past week and 76% year-to-date. According to InvestingPro data, analyst targets for ANAB range from $20 to $90, reflecting diverse market expectations.
The price target increase follows AnaptysBio’s September 29 announcement of its plan to separate into two independent, publicly traded companies by the end of 2026. The separation will create a Royalty Management Company and a Biopharma Company. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 8.22, though it’s currently burning through cash reserves.
The Royalty Management Company will focus on managing cash flows from collaborations, including those with GSK’s Jemperli and VNDA’s imsidolimab. The Biopharma Company will concentrate on developing immunology therapies for autoimmune and inflammatory diseases, including rosnilimab, ANB033, and ANB101.
Current CEO Daniel Faga is expected to lead the Biopharma entity after the separation is complete. The strategic move aims to enhance shareholder value by creating two distinct business models.
Leerink Partners believes the separation will sharpen investor focus on the company’s asset values by distinguishing between a royalty-backed cash flow vehicle and a clinical-stage pipeline company.
In other recent news, AnaptysBio has announced plans to separate into two publicly traded companies by the end of 2026. The move involves creating a Royalty Management Company, which will manage royalties from collaborations with GSK and Vanda Pharmaceuticals , and a Biopharma Company that will focus on developing treatments for autoimmune and inflammatory diseases. This strategic decision has led H.C. Wainwright to raise its price target for AnaptysBio from $38 to $59, maintaining a Buy rating.
Additionally, the company’s stock experienced some volatility following concerns related to malignancy signals from Eli Lilly’s peresolimab, a PD-1 agonist. Truist Securities reiterated its Hold rating on AnaptysBio with a price target of $20. These developments have garnered attention as AnaptysBio navigates its future direction amidst these strategic and market challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.