AnaptysBio, Inc. (NASDAQ:ANAB) Receives $42.38 Average Price Target from Brokerages

AnaptysBio, Inc. (NASDAQ:ANAB) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.38.

A number of research firms have recently issued reports on ANAB. HC Wainwright raised shares of AnaptysBio from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $38.00 in a research report on Wednesday, June 4th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. Wells Fargo & Company raised their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a report on Thursday, May 29th. Finally, Johnson Rice restated a “buy” rating on shares of AnaptysBio in a report on Wednesday, March 26th.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB opened at $23.60 on Thursday. The company has a market cap of $693.37 million, a PE ratio of -3.88 and a beta of -0.26. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $41.31. The firm has a 50 day simple moving average of $20.38 and a 200 day simple moving average of $18.40.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.02. The company had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. On average, equities analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 13.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of AnaptysBio

A number of institutional investors have recently made changes to their positions in ANAB. US Bancorp DE grew its holdings in shares of AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 979 shares during the last quarter. Farther Finance Advisors LLC grew its position in AnaptysBio by 9,778.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 1,858 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of AnaptysBio during the fourth quarter valued at $40,000. Finally, AlphaQuest LLC lifted its position in AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 4,237 shares during the period.

AnaptysBio Company Profile

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.