AnaptysBio (NASDAQ:ANAB) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of AnaptysBio (NASDAQ:ANAB) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on ANAB. Piper Sandler decreased their target price on shares of AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Monday. UBS Group cut their price target on shares of AnaptysBio from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Wedbush raised their price target on shares of AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, Leerink Partners upped their price objective on AnaptysBio from $66.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.18.

AnaptysBio Trading Down 0.4%

AnaptysBio stock opened at $69.49 on Monday. AnaptysBio has a 12 month low of $11.40 and a 12 month high of $72.36. The business’s fifty day simple moving average is $61.18 and its two-hundred day simple moving average is $50.05. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -133.64 and a beta of 0.79.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The firm had revenue of $108.25 million during the quarter, compared to analyst estimates of $87.09 million. On average, equities research analysts predict that AnaptysBio will post -3.15 EPS for the current year.

AnaptysBio announced that its Board of Directors has initiated a share repurchase plan on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 5,352,316.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at AnaptysBio

In other news, Director John P. Schmid sold 20,645 shares of the stock in a transaction on Monday, March 30th. The stock was sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the transaction, the director directly owned 31,622 shares of the company’s stock, valued at $1,774,310.42. This represents a 39.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric J. Loumeau sold 10,000 shares of AnaptysBio stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the completion of the sale, the insider directly owned 12,835 shares of the company’s stock, valued at $693,090. The trade was a 43.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,324 shares of company stock worth $2,787,594 over the last three months. 33.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. raised its position in AnaptysBio by 2,236.6% in the third quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock worth $5,920,000 after acquiring an additional 185,053 shares during the period. Granahan Investment Management LLC grew its holdings in AnaptysBio by 12.2% during the third quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock valued at $4,525,000 after purchasing an additional 16,118 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of AnaptysBio by 333.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 145,191 shares of the biotechnology company’s stock worth $4,446,000 after buying an additional 111,668 shares during the period. Tema Etfs LLC lifted its position in shares of AnaptysBio by 105.6% during the 4th quarter. Tema Etfs LLC now owns 22,560 shares of the biotechnology company’s stock valued at $1,094,000 after buying an additional 11,585 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of AnaptysBio during the 4th quarter valued at about $506,000.

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.