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ANAB - AnaptysBio Inc News Story

$24.51 -1.4  -5.4%

Last Trade - 18/05/21

Sector
Healthcare
Size
Mid Cap
Market Cap £501.9m
Enterprise Value £232.8m
Revenue £50.4m
Position in Universe 3190th / 6846

BUZZ-AnaptysBio: Analysts disappointed after drug fails late-stage study

Tue 9th March, 2021 2:05pm
** At least two brokerages downgrade drug developer  ANAB.O 
after co's skin disorder drug fails to meet the primary goal in
a late-stage study 
    ** Co said on Monday its imsidolimab treatment, meant to
lower the severity of skin disorder palmoplantar pustulosis
(PPP), did not show statistically significant improvement over
placebo  urn:newsml:reuters.com:*:nASA01UNY
    ** J.P.Morgan downgrades co to "underweight" from
"overweight", cuts PT to $17 from $40 
    ** "This is certainly a disappointing outcome and is another
high-profile clinical setback for co," says JPM 
    ** JPM now views co as an underperformer in comparison to
the broader biotech group, driven by negative sentiment
    ** Wedbush also downgrades ANAB to "neutral" from
"outperform", cuts PT to $19 from $35
    ** Says though co has enough cash to provide operational
runway into 2024, there is lack of near-term catalysts
    ** Shares down 1.2% at $19.28 premarket after falling over
33% on Monday
    ** ANAB down over 9% YTD, as of last close


 (Reporting by Tapanjana Rudra)
 ((Tapanjana.Rudra@thomsonreuters.com;))
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