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ANAB

AnaptysBio

$48.85

-0.42 (-0.85%)

07:53
08/20/19
08/20
07:53
08/20/19
07:53

Cantor says AnaptysBio CFO resignation likely has no read to ongoing studies

After speaking to AnaptysBio management, Cantor Fitzgerald analyst Eliana Merle said she thinks the resignation of CFO Dominic Piscitelli likely has no read-through to the company's ongoing clinical studies, which all remain blinded. While "optically this timing might not be ideal," management reiterated that all clinical timelines remain on track and her sense is that Piscitelli was approached with a compelling opportunity, the analyst tells investors. Merle keeps an Overweight rating on AnaptysBio shares with a $140 price target.

ANAB AnaptysBio
$48.85

-0.42 (-0.85%)

06/21/19
STFL
06/21/19
DOWNGRADE
Target $74
STFL
Hold
AnaptysBio downgraded to Hold from Buy at Stifel
Stifel analyst Derek Archila downgraded AnaptysBio (ANAB) to Hold from Buy as he is less confident etokimab will be meaningfully differentiated from Sanofi (SNY) and Regeneron's (REGN) Dupixent after the latter companies reported results from their Phase 2 study for REGN3500, an antiIL-33 antibody, in asthma. REGN3500 did numerically worse than Dupixent as a monotherapy and the combination of REGN3500/Dupixent did not confer a benefit over Dupixent alone, noted Archila. He lowered his view on the odds of success for etokimab to 50% from 55% and also cut his market share assumptions following the competitors' data. Archila cut his price target on AnaptysBio shares to $74 from $124.
06/21/19
JEFF
06/21/19
NO CHANGE
JEFF
Buy
Jefferies reiterates Buy on AnaptysBio, says Regeneron data 'best case'
Jefferies analyst Biren Amin says that while the selloff this morning in AnaptysBio (ANAB) shares suggests that its etokimab has lower odds after Regeneron's (REGN) REGN3500 data, the data from Regeneron are actually a "best case scenario." The combo of REGN3500 and Dupixent did not offer any additional benefit, says the analyst, who viewed that arm as the greatest long-term risk to etokimab. Also, not all antibodies are built the same, Amin tells investors in a research note titled "Don't Throw The Baby Out With Bathwater; A Lesson To Be Learned From AMG-317." He notes that AMG-317 failed in asthma, and targets IL-4, and yet Dupixent has seen success. The analyst reiterates a Buy rating on AnaptysBio and awaits the company's data in the second half of the year. The stock in early trading is down 15%, or $9.82, to $57.20.
06/21/19
06/21/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Carnival (CCL) downgraded to Equal Weight from Overweight at Barclays with analyst Felicia Hendrix saying the company's challenges in Europe, which could continue into next year, make it difficult to justify the sane Overweight rating that is on peers Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH). 2. Caterpillar (CAT) downgraded to Underweight from Neutral at Atlantic Equities. 3. Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities. 4. AnaptysBio (ANAB) downgraded to Neutral from Outperform at Credit Suisse and to Hold from Buy at Stifel. 5. Sealed Air (SEE) downgraded to Neutral from Buy at BofA/Merrill with analyst George Staphos citing the company's announcement that its board terminated William Stiehl as Chief Financial Officer for cause relating to the process by which the company selected its independent audit firm. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/24/19
RHCO
06/24/19
NO CHANGE
RHCO
AnaptysBio price target lowered to $93 from $125 at SunTrust, maintain Buy
SunTrust analyst Joon Lee maintained a Buy rating on Anaptys Bio but lowered his price target to $93 from $125 after a competitor drug with the same target as etokimab failing to meaningfully differentiate from dupilumab. However, the analyst still views etokimab as a viable drug in markets large enough to sustain multiple drugs.

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