Guggenheim notes that Eli Lilly ( LLY ) indicated the removal of its PD-1 agonist program, peresolimab, from its pipeline chart in its Q3 earnings presentation, which has prompted a move lower in shares of AnaptysBio ( ANAB ). However, the firm believes Anaptys' molecules are "differentiated as bona fide and potentially best-in-class checkpoint agonists" and continues to see a "highly favorable risk/reward" into the BTLA readout from the Phase 2b atopic dermatitis top-line results due in December. The firm would be buyers on today's weakness and keeps a Buy rating on AnaptysBio, which it calls "the leader in the checkpoint agonist space."