AnaptysBio, Inc. (NASDAQ:ANAB) Receives $35.88 Average Price Target from Brokerages

AnaptysBio, Inc. (NASDAQ:ANAB) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.88.

A number of research firms recently commented on ANAB. Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a research note on Thursday, May 1st. Wolfe Research began coverage on AnaptysBio in a research note on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price objective on the stock. Wells Fargo & Company raised their price objective on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Johnson Rice reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th.

Institutional Trading of AnaptysBio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its holdings in AnaptysBio by 433.3% in the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock worth $86,139,000 after buying an additional 3,764,720 shares during the period. Vanguard Group Inc. lifted its holdings in AnaptysBio by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock worth $24,411,000 after buying an additional 143,584 shares during the period. Fairmount Funds Management LLC purchased a new stake in AnaptysBio in the fourth quarter worth about $24,050,000. Boxer Capital Management LLC purchased a new stake in AnaptysBio in the fourth quarter worth about $17,212,000. Finally, Palo Alto Investors LP lifted its holdings in AnaptysBio by 20.9% in the first quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company’s stock worth $18,975,000 after buying an additional 176,742 shares during the period.

AnaptysBio Stock Down 0.9%

ANAB opened at $20.22 on Friday. The stock has a market cap of $594.06 million, a PE ratio of -3.33 and a beta of -0.20. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $41.31. The business’s fifty day simple moving average is $18.97 and its 200 day simple moving average is $18.27.

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

AnaptysBio announced that its Board of Directors has approved a stock buyback program on Monday, March 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 13.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.