Guggenheim Boosts AnaptysBio (NASDAQ:ANAB) Price Target to $54.00

AnaptysBio (NASDAQ:ANAB) had its price target increased by Guggenheim from $52.00 to $54.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities analysts also recently commented on ANAB. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Johnson Rice reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. HC Wainwright reissued a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. Finally, Wolfe Research initiated coverage on AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.88.

AnaptysBio Stock Down 2.9 %

Shares of AnaptysBio stock opened at $20.12 on Tuesday. The company’s fifty day simple moving average is $18.39 and its two-hundred day simple moving average is $18.92. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31. The firm has a market cap of $595.03 million, a PE ratio of -3.31 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.02. The company 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, sell-side analysts expect that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a share repurchase program on Monday, March 24th that authorizes the company to repurchase $75.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of AnaptysBio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in AnaptysBio by 9,778.9% in the first 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in AnaptysBio by 131.3% in the 4th 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in AnaptysBio during the 4th quarter valued at about $40,000. AlphaQuest LLC increased its stake in AnaptysBio by 1,891.5% during the 4th 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 in the last quarter. Finally, Virtus ETF Advisers LLC raised its holdings in AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after buying an additional 936 shares during the last quarter.

About AnaptysBio

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.