- HC Wainwright is assuming coverage on AnaptysBio Inc (NASDAQ:ANAB) with a Buy Rating and a price target of $35 at a unique inflection point since it was founded in 2005.
- The company’s lead asset, Imsidolimab (anti-IL36R), failed in a Phase 2 trial for hidradenitis suppurativa (HS), and it intends to partner the remaining opportunity in generalized pustular psoriasis (GPP), where top-line results from an ongoing Phase 3 trial are anticipated in 4Q/23.
- Also read: AnaptysBio Sells Royalty Interest In Cancer Drug For $45M.
- HC Wainwright sees the above as “clearing events” that enable the company to fully commit its discovery engine and strong cash position (>$500M) toward developing checkpoint receptor antibodies as treatments for autoimmune and inflammatory disorders.
- The analyst writes that a strong cash position plus a steady source of passive income set AnaptysBio apart from other biotech companies and supports the thesis as the company pivots its R&D pipeline.
- Price Action: ANAB shares are down 1.46% at $24.90 on the last check Monday.
Bruker Corp Expects Its Revenue For Q4 2023 To Be Over $830M Vs $793.24M Est.; FY23 Is Expected To Exceed $2.94B Vs $2.90B Est
- SEC Filing On January 8, 2024, during its scheduled presentation at the 42nd Annual J.P. Morgan Healthcare Conference, Bruker Corporation (the "Company") stated that its current preliminary expectation for revenue
