AnaptysBio price target lowered to $125 from $156 at SunTrust

SunTrust analyst Joon Lee lowered his price target on AnaptysBio to $125, citing increasing competition for its product. The analyst keeps his Buy rating however and expects its stock to show “significant upside from current levels in 2019” ahead of the four major data readouts to follow “already promising” phase 2 proof of concept data in atopic dermatitis and asthma. Lee is overall positive on AnaptysBio’s “proprietary antibody generation platform that is able to mimic natural in vivo process of antibody diversity generation in an in vitro system”.
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