AnaptysBio (NASDAQ:ANAB) Given New $85.00 Price Target at Stifel Nicolaus

AnaptysBio (NASDAQ:ANAB) had its price target upped by stock analysts at Stifel Nicolaus from $56.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 43.95% from the company’s previous close.

A number of other research analysts also recently commented on ANAB. Wells Fargo & Company boosted their price target on AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Guggenheim restated a “buy” rating on shares of AnaptysBio in a research report on Thursday, December 18th. Truist Financial upped their price target on shares of AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Finally, HC Wainwright boosted their price objective on shares of AnaptysBio from $51.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.89.

AnaptysBio Trading Down 2.5%

NASDAQ ANAB opened at $59.05 on Thursday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -113.56 and a beta of 0.32. The company has a 50 day moving average of $50.02 and a 200-day moving average of $38.65. AnaptysBio has a 1-year low of $15.32 and a 1-year high of $62.69.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, March 9th. The biotechnology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.69. The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. On average, equities research analysts forecast that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio declared that its board has initiated a share buyback program on Friday, November 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the biotechnology company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AnaptysBio

In other AnaptysBio news, CEO Daniel Faga sold 14,281 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $44.71, for a total transaction of $638,503.51. Following the sale, the chief executive officer owned 479,344 shares of the company’s stock, valued at approximately $21,431,470.24. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $54.00, for a total value of $540,000.00. Following the completion of the transaction, the insider owned 12,835 shares of the company’s stock, valued at $693,090. The trade was a 43.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 156,280 shares of company stock valued at $7,254,939. Corporate insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of AnaptysBio by 4,852.7% in the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after buying an additional 822,975 shares during the period. Affinity Asset Advisors LLC acquired a new position in AnaptysBio in the 4th quarter valued at approximately $21,559,000. 683 Capital Management LLC increased its position in AnaptysBio by 155.6% in the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after acquiring an additional 304,373 shares during the period. JPMorgan Chase & Co. raised its stake in shares of AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after acquiring an additional 233,325 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of AnaptysBio by 2,358.3% during the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock worth $11,109,000 after purchasing an additional 219,816 shares during the period.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.