Skin Disease-Focused AnaptysBio Earns Analyst Upgrade On Positive Outlook For Clinical Triggers
Portfolio Pulse from Vandana Singh
AnaptysBio Inc (NASDAQ:ANAB) reported a Q4 2023 EPS of $(1.59), slightly better than expected, and sales of $9.01 million, surpassing forecasts. With $417 million in cash, it's set to last through 2026. Wedbush upgraded ANAB from Neutral to Outperform with a $34 target, citing upcoming clinical triggers. Meanwhile, Eli Lilly (NYSE:LLY) showed mixed results for peresolimab, suggesting an opportunity for ANAB's rosnilimab.
March 12, 2024 | 6:48 pm
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NEUTRAL IMPACT
Eli Lilly's mixed results for peresolimab may present an opportunity for AnaptysBio's rosnilimab, potentially impacting LLY's position in the PD-1 agonist field.
While Eli Lilly's mixed results might not directly impact its stock in the short term, it highlights a competitive opportunity for AnaptysBio, indirectly affecting investor sentiment towards LLY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
AnaptysBio reported better than expected Q4 results and received an upgrade from Wedbush with a higher price target, indicating strong future potential.
The upgrade by Wedbush and surpassing of sales and EPS forecasts indicate strong investor confidence and potential for stock appreciation in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100