UBS Group Increases AnaptysBio (NASDAQ:ANAB) Price Target to $90.00

AnaptysBio (NASDAQ:ANAB) had its target price upped by equities researchers at UBS Group from $70.00 to $90.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. UBS Group’s price target indicates a potential upside of 34.23% from the company’s previous close.

A number of other research firms have also weighed in on ANAB. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Barclays upped their price objective on shares of AnaptysBio from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Stifel Nicolaus lifted their target price on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. Finally, Wedbush increased their price target on AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, March 12th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.44.

AnaptysBio Price Performance

NASDAQ ANAB traded up $2.27 on Tuesday, reaching $67.05. The company had a trading volume of 160,002 shares, compared to its average volume of 496,808. AnaptysBio has a 1 year low of $15.32 and a 1 year high of $67.44. The firm has a 50-day moving average of $52.18 and a 200-day moving average of $41.12. The firm has a market capitalization of $1.93 billion, a PE ratio of -129.10 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.69. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The company had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. As a group, sell-side analysts expect that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its Board of Directors has approved a share repurchase 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 reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Magda Marquet sold 11,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the sale, the director directly owned 9,930 shares of the company’s stock, valued at $478,923.90. This trade represents a 52.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Faga sold 15,309 shares of AnaptysBio stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $43.26, for a total value of $662,267.34. Following the sale, the chief executive officer owned 458,139 shares of the company’s stock, valued at approximately $19,819,093.14. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 128,055 shares of company stock worth $5,988,922. Insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its position in AnaptysBio by 1.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after acquiring an additional 225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of AnaptysBio by 24.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 263 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of AnaptysBio by 21.2% during the 4th quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 284 shares in the last quarter. Susquehanna Portfolio Strategies LLC lifted its stake in shares of AnaptysBio by 1.4% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock valued at $1,743,000 after purchasing an additional 500 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 821 shares during the last quarter.

About AnaptysBio

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.