AnaptysBio, Inc. (NASDAQ:ANAB) Receives $35.11 Average PT from Brokerages

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.11.

ANAB has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. HC Wainwright reaffirmed a “neutral” rating and set a $22.00 price objective on shares of AnaptysBio in a report on Tuesday, March 4th. Truist Financial cut their target price on shares of AnaptysBio from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of AnaptysBio in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th.

AnaptysBio Stock Performance

Shares of ANAB stock opened at $18.71 on Friday. The company has a market capitalization of $573.78 million, a PE ratio of -3.08 and a beta of 0.02. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $41.31. The business’s fifty day moving average is $16.88 and its 200 day moving average is $22.34.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The firm had revenue of $43.11 million for the quarter, compared to analysts’ expectations of $10.17 million. On average, sell-side analysts forecast that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its board has approved a stock buyback 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 buy up to 13.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Ecor1 Capital, Llc purchased 6,646 shares of AnaptysBio stock in a transaction that occurred on Thursday, January 2nd. The shares were acquired at an average cost of $12.95 per share, for a total transaction of $86,065.70. Following the transaction, the director now directly owns 7,880,094 shares in the company, valued at $102,047,217.30. The trade was a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.70% of the stock is currently owned by corporate insiders.

Institutional Trading of AnaptysBio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of AnaptysBio by 15.3% in the third quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock worth $110,857,000 after buying an additional 438,557 shares during the period. Frazier Life Sciences Management L.P. grew its holdings in AnaptysBio by 2.0% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after acquiring an additional 43,598 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AnaptysBio by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock valued at $24,411,000 after acquiring an additional 143,584 shares during the period. Fairmount Funds Management LLC purchased a new position in shares of AnaptysBio in the fourth quarter valued at about $24,050,000. Finally, Boxer Capital Management LLC bought a new position in shares of AnaptysBio during the fourth quarter valued at about $17,212,000.

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.