AnaptysBio (ANAB) Stock Forecast & Price Target

AnaptysBio is supported by a strengthening Jemperli royalty engine, as GSK’s Canadian review acceptance for rectal cancer adds regulatory validation to the AZUR-1 data and expands the path beyond the endometrial cancer franchise. The company’s financial upside is tied to Jemperli’s scale, with global net sales of $331M in 2Q26, $644M in 1H26, and expectations for more than $390M of annualized royalties as early as 2029, while rectal cancer could further lift peak sales and royalties. Additional value comes from Quimilza’s FDA review with a December 12, 2026 PDUFA date and from the potential resolution of the GSK royalty dispute, which could accelerate visible cash flows.

AnaptysBio is exposed to meaningful downside because its valuation depends heavily on clinical outcomes and royalty upside that could be impaired by litigation, regulatory setbacks, or weak commercial execution. Failed or inconclusive trials in Jemperli’s development indications, together with ongoing litigation with GSK and regulatory risk around new Jemperli indications and the submitted BLA for imsidolimab, create multiple paths to disappointment that could pressure the stock. Although additional capital is not currently expected, slower Jemperli uptake, stronger PD-1/PD-L1 competition, and financial results below expectations could weaken royalty growth and overall valuation.