AnaptysBio, Inc. (NASDAQ:ANAB) Receives $55.40 Consensus Target Price from Analysts

AnaptysBio, Inc. (NASDAQ:ANAB) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $55.40.

A number of brokerages have recently commented on ANAB. Barclays reduced their target price on shares of AnaptysBio from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Truist Financial lifted their target price on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, October 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th.

AnaptysBio Trading Up 0.2%

ANAB stock opened at $50.10 on Monday. The company has a market capitalization of $1.39 billion, a P/E ratio of -17.77 and a beta of 0.28. The business has a 50 day simple moving average of $40.45 and a 200-day simple moving average of $29.96. AnaptysBio has a twelve month low of $12.21 and a twelve month high of $51.43.

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. The firm had revenue of $76.32 million during 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%. Research analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a stock buyback plan on Friday, November 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Eric J. Loumeau sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $44.86, for a total value of $560,750.00. Following the completion of the sale, the insider directly owned 9,088 shares of the company’s stock, valued at $407,687.68. This trade represents a 57.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dennis Mulroy sold 15,725 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $44.85, for a total value of $705,266.25. Following the completion of the sale, the chief financial officer directly owned 9,401 shares of the company’s stock, valued at approximately $421,634.85. This trade represents a 62.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 63,766 shares of company stock valued at $3,011,004. 33.50% of the stock is owned by insiders.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in AnaptysBio by 54.6% in the third 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 in the last quarter. Bessemer Group Inc. grew its holdings 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 worth $44,000 after acquiring an additional 1,292 shares during the period. Tower Research Capital LLC TRC increased its stake in AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,377 shares in the last quarter. Osaic Holdings Inc. raised its holdings in AnaptysBio by 11,630.0% during the second 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 last quarter. Finally, Profund Advisors LLC acquired a new position in AnaptysBio during the third quarter worth $201,000.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.