AnaptysBio, Inc. (NASDAQ:ANAB) Receives $73.44 Average PT from Brokerages

AnaptysBio, Inc. (NASDAQ:ANAB) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.4444.

Several equities research analysts recently weighed in on the stock. Barclays increased their price objective on shares of AnaptysBio from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Stifel Nicolaus upped their target price on AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. HC Wainwright raised their price target on AnaptysBio from $51.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd.

Insider Buying and Selling

In other news, Director Magda Marquet sold 11,000 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the transaction, the director owned 9,930 shares of the company’s stock, valued at approximately $478,923.90. The trade was a 52.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel Faga sold 14,281 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $44.71, for a total transaction of $638,503.51. Following the transaction, the chief executive officer owned 479,344 shares of the company’s stock, valued at $21,431,470.24. This represents a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,280 shares of company stock valued at $7,254,939 in the last three months. 33.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. raised its holdings in shares of AnaptysBio by 2,236.6% during the third quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock valued at $5,920,000 after buying an additional 185,053 shares during the last quarter. Panagora Asset Management Inc. bought a new position in AnaptysBio in the 2nd quarter worth approximately $741,000. Assenagon Asset Management S.A. grew its holdings in AnaptysBio by 4,852.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after buying an additional 822,975 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in AnaptysBio in the 2nd quarter valued at approximately $334,000. Finally, 683 Capital Management LLC raised its stake in AnaptysBio by 155.6% during the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after acquiring an additional 304,373 shares in the last quarter.

AnaptysBio Price Performance

ANAB stock opened at $59.70 on Friday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -114.81 and a beta of 0.32. AnaptysBio has a 1-year low of $15.32 and a 1-year high of $63.47. The firm has a fifty day moving average price of $50.45 and a two-hundred day moving average price of $39.57.

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 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 the consensus estimate of $87.09 million. As a group, analysts expect that AnaptysBio will post -6.08 EPS for the current fiscal year.

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

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.