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Skin Disease-Focused AnaptysBio Earns Analyst Upgrade On Positive Outlook For Clinical Triggers

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Monday, AnaptysBio Inc (NASDAQ:ANAB) reported a fourth-quarter 2023 EPS of $(1.59), slightly better than the consensus of $(1.60).

The company reported sales of $9.01 million, surpassing the consensus of $2.23 million.

The company’s year-end 2023 cash and investments of $417 million are expected to provide a cash runway through year-end 2026.

Wedbush upgraded AnaptysBio, anticipating that a sequence of derivative developments and the company’s internal clinical triggers will boost the company’s stock in the next 1-1.5 years. 

Wedbush upgrades AnaptysBio from Neutral to Outperform, with a price target of $34, up from $20.

The company maintained guidance for Phase 2 data for …

Full story available on Benzinga.com

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