Why AnaptysBio Was Such a Healthy Stock This Week

Clinical-stage biotech AnaptysBio (NASDAQ: ANAB) has recently been something of a standout, at least on the stock exchange. According to data compiled by S&P Global Market Intelligence, the clinical-stage biotech's share price had increased by nearly 10% week to date as of Friday before market open. Although there was little market-moving direct news from the company, a positive research note published Monday brought investors into the stock.The analyst behind that note, Guggenheim's Yatin Suneja, reiterated his buy rating on AnaptysBio. He also maintained his $75-per-share price target, which is slightly more than double the stock's latest closing price.Suneja's latest note on the biotech follows Guggenheim's hosting of a set of investor meetings with company management. In these, the pundit found several reasons to keep his positive take intact. He said a phase 2 clinical trial of AnaptysBio's investigational atopic dermatitis drug should produce a readout in December, with company officials apparently confident in the outcome.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool