AnaptysBio (NASDAQ:ANAB) Releases Quarterly Earnings Results, Beats Expectations By $1.95 EPS

AnaptysBio (NASDAQ:ANAB) issued its quarterly earnings results on Thursday. The biotechnology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($1.84) by $1.95, FiscalAI reports. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%. The firm had revenue of $30.27 million during the quarter, compared to the consensus estimate of $25.56 million.

AnaptysBio Stock Performance

ANAB stock traded down $1.00 during trading on Thursday, reaching $47.77. 262,896 shares of the company were exchanged, compared to its average volume of 660,430. The stock’s 50 day moving average price is $50.17 and its 200 day moving average price is $56.31. AnaptysBio has a 52-week low of $21.93 and a 52-week high of $72.36. The company has a market cap of $1.43 billion, a P/E ratio of 8.90 and a beta of 0.70.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANAB. Wall Street Zen downgraded shares of AnaptysBio from a “buy” rating to a “hold” rating in a report on Sunday, October 4th. Wolfe Research restated an “outperform” rating and issued a $78.00 price objective on shares of AnaptysBio in a research report on Monday, August 31st. TD Cowen lowered their price objective on AnaptysBio from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. JPMorgan Chase & Co. lowered their price objective on AnaptysBio from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of AnaptysBio in a research note on Tuesday, September 22nd. Twelve investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.67.

Insider Transactions at AnaptysBio

In other news, Director Hollings Renton sold 5,000 shares of AnaptysBio stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $49.87, for a total transaction of $249,350.00. Following the completion of the sale, the director directly owned 10,995 shares in the company, valued at approximately $548,320.65. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 31.50% of the company’s stock.

AnaptysBio Company Profile

AnaptysBio is a biotechnology company focused on developing antibody-based treatments for inflammatory and autoimmune diseases. Its research programs target immune pathways that may be involved in conditions with significant unmet medical needs. The company’s pipeline has included rosnilimab, an investigational antibody designed to activate the PD-1 pathway, and ANB032, an investigational antibody targeting BTLA. AnaptysBio has also developed imsidolimab, an antibody targeting the IL-36 receptor; global rights to that program were licensed to Vanda Pharmaceuticals.