AnaptysBio (NASDAQ:ANAB) Price Target Lowered to $56.00 at Stifel Nicolaus

AnaptysBio (NASDAQ:ANAB) had its price target reduced by stock analysts at Stifel Nicolaus from $80.00 to $56.00 in a report released on Thursday, MarketBeat reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 24.06% from the stock’s current price.

Several other research firms have also recently weighed in on ANAB. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. Guggenheim increased their target price on AnaptysBio from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company lifted their price target on AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Truist Financial upped their price objective on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a report on Monday, November 10th. Finally, HC Wainwright lowered their price objective on AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.90.

AnaptysBio Price Performance

Shares of AnaptysBio stock opened at $45.14 on Thursday. The business has a fifty day simple moving average of $36.67 and a two-hundred day simple moving average of $27.76. AnaptysBio has a 1 year low of $12.21 and a 1 year high of $46.56. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.97 and a beta of 0.29.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, beating the consensus estimate of ($1.06) by $1.58. The firm had revenue of $76.32 million for the quarter, compared to the consensus estimate of $15.83 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. As a group, equities analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its Board of Directors has authorized a stock buyback plan on Friday, November 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ANAB. US Bancorp DE raised its stake in AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 979 shares in the last quarter. Larson Financial Group LLC increased its holdings in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 473 shares during the period. Bessemer Group Inc. raised its position in shares of 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 buying an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings 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 acquiring an additional 1,377 shares during the period. Finally, Osaic Holdings Inc. boosted its position 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 acquiring an additional 2,326 shares in 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.