AnaptysBio price target raised to $135 from $85 at Credit Suisse
Credit Suisse analyst Alethia Young raised her price target for AnaptysBio to $135 saying she sees "room for upside" given the company's "many catalysts" in the next 12-18 months. The analyst lists the ANB-020 peanut allergy data in Q1, asthma data in Q2 and additional atopic dermatitis data potentially to be presented at a medical meeting in February as the key near-term catalysts. Young increased her probability of success estimate for ANB-019 on generalized pustular psoriasis from 0% to 25% ahead of getting first patient data potentially in late 2018 or early 2019 and raised her probability of success on ANB-020 in peanut allergy from 10% to 25% ahead of upcoming proof of concept data. She continues to like the pipeline story and keeps an Outperform rating on shares of AnaptysBio.