AnaptysBio, Inc. (NASDAQ:ANAB) Receives $60.40 Average PT from Analysts

AnaptysBio, Inc. (NASDAQ:ANAB) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $62.70.

A number of analysts have recently weighed in on ANAB shares. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Stifel Nicolaus lowered their price objective on shares of AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. HC Wainwright reduced their target price on AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Wells Fargo & Company lifted 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th.

Insider Activity at AnaptysBio

In other news, Director Magda Marquet sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the sale, the director directly owned 9,930 shares in the company, valued at approximately $478,923.90. This trade represents a 52.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Faga sold 15,309 shares of the company’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 transaction of $662,267.34. Following the transaction, the chief executive officer owned 458,139 shares of the company’s stock, valued at approximately $19,819,093.14. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 146,280 shares of company stock worth $6,714,939 over the last three months. 33.50% of the stock is owned by insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in AnaptysBio by 153.3% in the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock worth $558,000 after purchasing an additional 18,165 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of AnaptysBio by 2.7% during the first quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company’s stock worth $574,000 after purchasing an additional 826 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of AnaptysBio in the first quarter valued at approximately $1,803,000. HighMark Wealth Management LLC increased its stake in shares of AnaptysBio by 58.2% in the second quarter. HighMark Wealth Management LLC now owns 145,550 shares of the biotechnology company’s stock valued at $3,231,000 after buying an additional 53,550 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in AnaptysBio in the 2nd quarter valued at approximately $337,000.

AnaptysBio Stock Performance

ANAB opened at $46.21 on Friday. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $52.47. The firm has a market cap of $1.28 billion, a P/E ratio of -16.39 and a beta of 0.32. The business’s fifty day moving average is $44.20 and its 200-day moving average is $32.76.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of ($1.06) by $1.58. The business had revenue of $76.32 million during the quarter, compared to analysts’ expectations of $15.83 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. On average, research analysts predict that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its board has initiated a share buyback plan on Friday, November 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

About AnaptysBio

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.