Oct. 13 at 3:59 PM
Barclays🏁
$ANAB OW/
$78
$LLY $ABVX
$PTGX $JNJ
Barclays initiation report said:
Our Overweight rating rests on several factors: compelling data to date for rosnilimab, a novel mechanism, in rheumatoid arthritis (RA), and a positive outlook ahead of the ulcerative colitis (UC) readout in 4Q25.
While there are some lingering questions in RA, we see upside in upcoming updates in RA and competitive clinical remission rates in UC.
In our view, the near-term upside to AnaptysBio from its UC readout is substantial and the mechanism by which the drug works supports activity in this indication (see the Abivax company section for historical valuations and price movements following positive UC data).
While we acknowledge early results could be inclusive similar to ABVX, we believe ANAB's new mechanism of action, and supportive data from RA, should create a path to value creation with rosnilimab, with upside optionality with ABN033 (CD122), based on what we've seen recently from others in the space.
