AnaptysBio (ANAB) Price Target Reduced to $93 Amid Spinoff Completion

AI Summary

AnaptysBio, Inc. (ANAB) has had its price target cut by Piper Sandler from $95 to $93 while maintaining an Overweight rating. This adjustment followed the completion of the First Tracks Biotherapeutics (TRAX) spinoff announced in April 2026, transitioning ANAB to operate as a royalty management company. Additionally, on April 24, the Delaware Chancery Court dismissed a breach of contract claim against AnaptysBio by Tesaro, affirming that the company did not repudiate its agreements with Tesaro regarding Jemperli. These developments could influence investor sentiment and market performance for ANAB.