Piper Sandler Raises AnaptysBio (NASDAQ:ANAB) Price Target to $95.00

AnaptysBio (NASDAQ:ANAB) had its price target boosted by Piper Sandler from $67.00 to $95.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target would indicate a potential upside of 69.07% from the company’s current price.

A number of other research analysts have also commented on ANAB. Barclays upped their price target on shares of AnaptysBio from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Truist Financial upgraded shares of AnaptysBio to a “hold” rating in a research report on Wednesday, March 25th. Stifel Nicolaus boosted their price objective on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus target price of $80.10.

AnaptysBio Price Performance

AnaptysBio stock traded up $0.80 during mid-day trading on Tuesday, hitting $56.19. 237,828 shares of the company’s stock traded hands, compared to its average volume of 535,472. The firm has a 50 day simple moving average of $55.49 and a two-hundred day simple moving average of $44.01. AnaptysBio has a fifty-two week low of $15.40 and a fifty-two week high of $68.39. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -107.79 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.89 by $0.69. The firm had revenue of $108.25 million for the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, research analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a stock repurchase program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in shares. This repurchase authorization allows the biotechnology company to buy up to 5,352,316.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Dennis Mulroy sold 3,363 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $43.26, for a total value of $145,483.38. Following the completion of the sale, the chief financial officer directly owned 14,330 shares in the company, valued at approximately $619,915.80. The trade was a 19.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric J. Loumeau sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 12,835 shares of the company’s stock, valued at approximately $693,090. This trade represents a 43.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 110,193 shares of company stock worth $5,333,138. Insiders own 33.50% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in shares of AnaptysBio by 4,852.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after purchasing an additional 822,975 shares in the last quarter. Affinity Asset Advisors LLC acquired a new position in AnaptysBio in the fourth quarter valued at about $21,559,000. 683 Capital Management LLC lifted its position in AnaptysBio by 155.6% during the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock worth $11,100,000 after purchasing an additional 304,373 shares during the period. JPMorgan Chase & Co. grew its stake in AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after buying an additional 233,325 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in 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 buying an additional 219,816 shares in the last quarter.

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.