UBS Assumes AnaptysBio (ANAB) at Buy

UBS analyst Michael Yee assumes coverage on AnaptysBio (NASDAQ: ANAB) with a Buy rating and a price target of $70.00.

The analyst comments: "We assume at BUY on ANAB, an undervalued immunology platform with multiple opportunities and a 2026-27 transition ahead. In short, the company is trading below our sum of the parts valuation based on: 1) HSD/DD royalties on GSK’s PD1 Jemperli + cash and 2) proprietary antibody pipeline of three different novel immunology drugs (worth $2-3B) for a clinical-stage pipeline of novel antibodies. Of note, we believe the company should unlock value in 2026 with the planned separation of the biotech and royalty businesses to allow investors to take on greater risk appetite in the pipeline and separate from a public listing for just the substantial royalties. Lead assets in inflammation and immuno- dermatology offer asymmetric upside as the pipeline matures, while the royalty business provides durable, high-margin cash flow that supports a stronger balance sheet."

For an analyst ratings summary and ratings history on AnaptysBio click here. For more ratings news on AnaptysBio click here.

Shares of AnaptysBio closed at $43.91 yesterday.

You May Also Be Interested In

• CFRA Starts SpaceX (SPCX) at Sell, 'Our primary concern is that SpaceX’s long-term strategy remains heavily dependent on Starship'
• BofA Securities Starts Dollarama Inc. (DOL:CN) (DLMAF) at Buy
• U.S. sees 80%-85% chance Iran deal will be signed - Bloomberg