Analysts Set AnaptysBio, Inc. (NASDAQ:ANAB) Price Target at $81.82

AnaptysBio, Inc. (NASDAQ:ANAB) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $81.8182.

Several research firms have issued reports on ANAB. Stifel Nicolaus increased their price objective on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Piper Sandler cut their price objective on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. UBS Group increased their price objective on AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Zacks Research cut AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Leerink Partners set a $90.00 price objective on AnaptysBio in a research report on Friday, May 15th.

AnaptysBio Stock Performance

NASDAQ:ANAB opened at $57.51 on Monday. The stock has a fifty day moving average price of $60.01 and a two-hundred day moving average price of $55.06. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -53.25 and a beta of 0.72. AnaptysBio has a 1 year low of $11.40 and a 1 year high of $72.36.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The business had revenue of $25.56 million during the quarter, compared to analysts’ expectations of $18.86 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%. On average, analysts predict that AnaptysBio will post -1.35 EPS for the current year.

AnaptysBio announced that its board has authorized a stock buyback plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to reacquire up to 5,352,316.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $61.61, for a total value of $1,089,203.19. Following the sale, the chief executive officer owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Schmid sold 20,645 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $56.11, for a total value of $1,158,390.95. Following the completion of the sale, the director directly owned 31,622 shares in the company, valued at $1,774,310.42. This trade represents a 39.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is currently owned by corporate insiders.

Institutional Trading of AnaptysBio

Several large investors have recently bought and sold shares of the company. Affinity Asset Advisors LLC boosted its stake in shares of AnaptysBio by 111.4% during the first quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company’s stock valued at $52,132,000 after acquiring an additional 495,308 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of AnaptysBio by 283.2% during the first quarter. Bank of America Corp DE now owns 501,086 shares of the biotechnology company’s stock valued at $27,790,000 after acquiring an additional 370,319 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after acquiring an additional 233,325 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in shares of AnaptysBio by 2,358.3% during the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock valued at $11,109,000 after acquiring an additional 219,816 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of AnaptysBio by 145.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company’s stock valued at $11,343,000 after acquiring an additional 219,648 shares during the last quarter.

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.