AnaptysBio (NASDAQ:ANAB) Sets New 1-Year High – Still a Buy?

AnaptysBio, Inc. (NASDAQ:ANAB) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.49 and last traded at $42.36, with a volume of 74538 shares. The stock had previously closed at $39.61.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ANAB. Guggenheim boosted their target price on AnaptysBio from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Stifel Nicolaus lifted their price target on AnaptysBio from $55.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, AnaptysBio presently has an average rating of “Moderate Buy” and an average target price of $59.30.

AnaptysBio Stock Performance

The stock has a market capitalization of $1.19 billion, a PE ratio of -15.19 and a beta of 0.16. The company’s fifty day simple moving average is $31.49 and its two-hundred day simple moving average is $25.75.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, beating the consensus estimate of ($1.06) by $1.58. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. The business had revenue of $76.32 million for the quarter, compared to analyst estimates of $15.83 million. Sell-side analysts forecast that AnaptysBio, Inc. will post -6.08 EPS for the current fiscal year.

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

Institutional Trading of AnaptysBio

A number of large 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 first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after buying an additional 979 shares in the last quarter. Larson Financial Group LLC grew its stake in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 473 shares during the period. Bessemer Group Inc. raised its holdings in AnaptysBio by 950.0% in the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 1,292 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of AnaptysBio by 175.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 1,377 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in shares of AnaptysBio by 11,630.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,326 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.