Deutsche Bank analyst Andrew Peters says his bullish thesis on DBV Technologies (DBVT) remains intact following last night's peanut allergy data from AnaptysBio (ANAB). While the early Phase 2a data suggest AnaptysBio's ANB020 could have an effect both on sensitivity to peanut protein as well as symptom severity during the food challenge, the data are "far from clear" and potential timelines to market suggest minimal impact on DBV's Viaskin Peanut, Peters tells investors in a research note. The analyst views the ANB020 data as not directly competitive to Viaskin Peanut given that they are in adults. Further, Peters notes that his Viaskin Peanut model already incorporates "conservative assumptions" around overall market penetration and share. The analyst reiterated a Buy rating on DBV Technologies with a $33 price target.

Leerink analyst David Risinger initiated coverage of AnaptysBio with an Outperform rating and $47 price target. The firm believes the company's R&D portfolio offers tremendous potential, shares are undervalued, and pipeline news flow is set to accelerate in late 2024-2025. AnaptysBio is an emerging I&I company with novel mechanisms for rheumatoid arthritis, ulcerative colitis, atopic dermatitis, and other immunological diseases. The company has two checkpoint agonists in Phase 2 development, and it plans to advance two additional novel mechanisms -- a CD122 antagonist and a BDCA2 modulator -- into the clinic this year. Leerink views the stock as undervalued even though it assigns conservative odds of success.