AnaptysBio rises after H.C. Wainwright upgrades to 'buy' on arthritis drug progress

AnaptysBio

04/06/2025 14:05

** Shares of drug developer AnaptysBio ANAB.O up 3.3% at $24.30 premarket

** H.C. Wainwright upgrades rating to "buy" from "neutral"; raises PT to $38 from $22, representing 61.6% upside to stock's last close

** ANAB said late on Tuesday its arthritis drug showed low disease activity, meeting main goal in mid-stage study over six months to treat patients with moderate-to-severe rheumatoid arthritis

** Company said rosnilimab patients showed significant reductions in mean change from baseline on scale commonly used to measure disease progression

** "We currently assume value for rosnilimab for treatment of RA with 50%," H.C. Wainwright says

** Brokerage sees additional indications such as ulcerative colitis for drug and assets in development as upside to PT

** As of last close, stock up 77.6% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))