AnaptysBio, Inc.
AI Valuation
AI-generated fair value estimate for this company.
AI Fair Value
$36.80
Market Price
$48.53
Overvalued By
31.9%
Method: 10-year unlevered FCF DCF: $19.6M FY2025 FCF base ramping 35% yrs 1-5 and 10% yrs 6-10 as GSK's Jemperli (dostarlimab) royalty/milestone stream scales; 11% discount rate; 3% terminal growth; $21M net cash added back; 29.90M shares outstanding.
Reasoning: AnaptysBio's FCF inflection is driven by rapidly growing milestone and royalty income from partnered immunology and oncology assets; a steep near-term growth rate captures the royalty ramp while a more moderate long-run rate reflects eventual maturation.