Benzinga | Oct 14, 2020 10:22AM EDT

Why AnaptysBio's Stock Is Trading Higher Today

AnaptysBio (NASDAQ:ANAB) shares are trading higher on Wednesday after Guggenheim upgraded the stock from Neutral to Buy and announced a price target of $36 per share.

AnaptysBio is a clinical-stage biotechnology company. It is focused on developing antibody product candidates for unmet medical needs in inflammation and immuno-oncology. The company develops product candidates to address emerging biological targets using its proprietary, antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation. Its product candidates are ANB020, ANB019, and Checkpoint receptor agonist. The entity generates revenue from collaborative research and development arrangements.

AnaptysBio shares traded up 28.77% to $22.87 on Wednesday. The stock has a 52-week high of $39.48 and a 52-week low of $10.