AnaptysBio stock price target raised to $72 from $57 at Piper Sandler

Investing.com - Piper Sandler raised its price target on AnaptysBio (NASDAQ:ANAB) to $72.00 from $57.00 on Tuesday, while maintaining an Overweight rating on the stock. The company has shown remarkable momentum, with shares surging over 80% in the past six months. According to InvestingPro data, analyst targets for the stock range from $20 to $90.

The research firm cited the continued success of JEMPERLI, a drug partnered with GSK, as a key factor in the increased valuation. Piper Sandler now values the JEMPERLI royalties at $36 per share, contributing significantly to the new price target.

GSK sees JEMPERLI as having potential peak sales exceeding $2.7 billion, which would trigger substantial royalty revenue for AnaptysBio. The partnership includes a $75 million milestone payment when the drug reaches $1 billion in worldwide annual sales.

Piper Sandler also highlighted AnaptysBio’s imsidolimab license agreement with Vanda Pharmaceuticals as another revenue opportunity. This agreement includes up to $35 million in future milestone payments and 10% royalties on global net sales.

AnaptysBio has scheduled a virtual investor event for Monday, October 14, at 4:30 PM ET to discuss ANB033, another product in its pipeline.

In other recent news, AnaptysBio announced that complete data from its Phase 2b trial of rosnilimab in rheumatoid arthritis will be presented at the American College of Rheumatology Convergence 2025. This presentation will cover the drug’s efficacy and safety profile. In addition, Barclays initiated coverage on AnaptysBio with an Overweight rating, highlighting the potential of rosnilimab as a key factor in its positive outlook. Meanwhile, Leerink Partners raised its price target for AnaptysBio to $37, maintaining an Outperform rating, following the company’s plan to split into two independent companies by the end of 2026.

H.C. Wainwright also raised its price target for AnaptysBio to $59, keeping a Buy rating, influenced by the same separation announcement. AnaptysBio plans to divide into a Royalty Management Company and a Biopharma Company, with the separation expected to close by the end of 2026. The Royalty Management Company will manage rights to Jemperli royalties from GSK and imsidolimab milestones and royalties from VNDA. The Biopharma Company will concentrate on pipeline development, including rosnilimab, ANB033, and ANB101. These developments reflect significant strategic shifts for AnaptysBio.

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