Corrects brokerage name throughout in September 30 story

** Shares of drug developer AnaptysBio ANAB.O up 33% at $30.97 during afternoon trading

** Leerink Partners raises PT for the San Diego-based firm to $37 from $32, a 59% upside to stock's last close; retains "outperform" rating

** ANAB is spinning off into two independent, publicly traded entities, Royalty Management Co and Biopharma Co, by the end of 2026

** Brokerage expects the spinoff companies to make it easier for investors to value each business separately

** "We believe this separation will sharpen investor focus on the company’s asset values by distinguishing between a royalty-backed cash flow vehicle and a clinical-stage pipeline company" — Leerink Partners

** 10 of 12 brokerages rate stock "buy" or higher, and two "hold"; median PT is $48 — data compiled by LSEG

** Including session's move, ANAB's shares up ~127.3% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))