JPMorgan Chase & Co. Issues Pessimistic Forecast for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $70.00 to $60.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 18.34% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Leerink Partners lowered their price target on shares of AnaptysBio from $90.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of AnaptysBio in a report on Friday, August 7th. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of AnaptysBio in a research report on Tuesday, September 22nd. Scotiabank cut shares of AnaptysBio to a “hold” rating and set a $70.00 target price on the stock. in a report on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of AnaptysBio from a “hold” rating to a “buy” rating in a research report on Saturday. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, AnaptysBio has an average rating of “Moderate Buy” and a consensus price target of $77.79.

AnaptysBio Trading Up 0.7%

Shares of NASDAQ:ANAB traded up $0.33 on Wednesday, hitting $50.70. The company had a trading volume of 224,230 shares, compared to its average volume of 689,636. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 9.42 and a beta of 0.71. The stock has a 50 day moving average price of $55.32 and a 200 day moving average price of $58.90. AnaptysBio has a 1-year low of $19.65 and a 1-year high of $72.36.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, September 21st. The biotechnology company reported $5.11 earnings per share for the quarter, topping the consensus estimate of ($0.46) by $5.57. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%.The firm had revenue of $27.49 million for the quarter, compared to analysts’ expectations of $14.06 million. During the same quarter last year, the business earned ($1.30) EPS. Sell-side analysts anticipate that AnaptysBio will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of AnaptysBio during the 2nd quarter valued at $124,473,000. Affinity Asset Advisors LLC increased its holdings in AnaptysBio by 111.4% in the 1st quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company’s stock worth $52,132,000 after purchasing an additional 495,308 shares in the last quarter. 683 Capital Management LLC raised its position in AnaptysBio by 18.5% in the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock valued at $31,420,000 after purchasing an additional 101,093 shares during the last quarter. Palo Alto Investors LP bought a new position in AnaptysBio in the second quarter valued at about $40,735,508. Finally, First Light Asset Management LLC boosted its stake in shares of AnaptysBio by 2.9% during the second quarter. First Light Asset Management LLC now owns 582,004 shares of the biotechnology company’s stock valued at $39,285,000 after purchasing an additional 16,573 shares in the last quarter.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on discovering and developing antibody-based medicines for cancer and immune-mediated diseases. The company’s programs are designed to modulate immune-cell signaling and address conditions in which the immune system is either insufficiently active, as in cancer, or overly active, as in autoimmune and inflammatory disorders.

AnaptysBio’s pipeline has included rosnilimab, an investigational antibody targeting CD200R1, and other immune-cell modulators aimed at autoimmune and inflammatory diseases.