Many stocks were wobbly over the past few trading days, but we can't say that about biotech (NASDAQ: ANAB). The company's shares closed the week almost 8% higher in price, according to data compiled by S&P Global Market Intelligence, largely on the strength of a research note published by a high-profile and influential bank.

That occurred on Thursday before market open, when Wells Fargo initiated coverage of AnaptysBio stock with an overweight -- buy, in other words -- recommendation at a target price of $56 per share. That's a very bullish take on the company, as its most recent closing price of $22.71 is less than half that figure.

In the bank's view, the biotech is sorely undervalued as the company's pipeline is something of a sleeper among investors.

Continue reading

Source Fool.com