Barclays Issues Positive Forecast for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its price objective lifted by research analysts at Barclays from $78.00 to $79.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective points to a potential upside of 41.07% from the stock’s current price.

Several other equities research analysts have also recently weighed in on ANAB. Stifel Nicolaus decreased their target price on AnaptysBio from $80.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Wells Fargo & Company upped their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Wedbush reaffirmed an “outperform” rating and set a $50.00 price objective on shares of AnaptysBio in a report on Monday, November 24th. UBS Group began coverage on AnaptysBio in a report on Wednesday, January 7th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Guggenheim restated a “buy” rating on shares of AnaptysBio in a research note on Thursday, December 18th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.67.

AnaptysBio Stock Up 6.0%

NASDAQ ANAB traded up $3.17 on Wednesday, hitting $56.00. 44,220 shares of the stock were exchanged, compared to its average volume of 451,267. AnaptysBio has a fifty-two week low of $15.12 and a fifty-two week high of $57.74. The company has a 50-day moving average price of $49.81 and a 200-day moving average price of $38.50. The company has a market cap of $1.55 billion, a PE ratio of -19.86 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Monday, March 9th. The biotechnology company reported $1.58 EPS for the quarter, beating 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 49.94%.The firm had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. As a group, equities research analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its board has authorized a share repurchase program on Friday, November 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the biotechnology company to purchase up to 9.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other AnaptysBio news, CEO Daniel Faga sold 15,309 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $662,267.34. Following the completion of the transaction, the chief executive officer owned 458,139 shares in the company, valued at approximately $19,819,093.14. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Magda Marquet sold 11,000 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 156,280 shares of company stock worth $7,254,939. 33.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.