Analysts Set AnaptysBio, Inc. (NASDAQ:ANAB) Target Price at $80.10
by Teresa Graham · The Cerbat GemShares of AnaptysBio, Inc. (NASDAQ:ANAB – Get Free Report) have been assigned an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $80.10.
Several research firms have commented on ANAB. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Stifel Nicolaus lifted their target price on AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Truist Financial upgraded AnaptysBio to a “hold” rating in a research report on Wednesday, March 25th. Finally, Wedbush increased their price target on AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th.
Read Our Latest Analysis on AnaptysBio
AnaptysBio Stock Performance
ANAB stock opened at $57.68 on Wednesday. AnaptysBio has a one year low of $15.40 and a one year high of $68.39. The company’s fifty day moving average price is $56.29 and its 200-day moving average price is $44.68. The company has a market capitalization of $1.66 billion, a PE ratio of -110.92 and a beta of 0.40.
AnaptysBio (NASDAQ:ANAB – Get Free Report) last posted its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.69. The company had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. On average, research analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.
AnaptysBio announced that its Board of Directors has authorized a stock repurchase program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 5,352,316.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Insider Buying and Selling at AnaptysBio
In other news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the sale, the chief executive officer directly owned 495,965 shares in the company, valued at approximately $30,556,403.65. This represents a 3.44% 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 John P. Schmid sold 20,645 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the completion of the transaction, the director directly owned 31,622 shares of the company’s stock, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 130,838 shares of company stock valued at $6,491,529 over the last ninety days. Corporate insiders own 33.50% of the company’s stock.
Institutional Investors Weigh In On AnaptysBio
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of 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 purchasing an additional 822,975 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of AnaptysBio during the 4th quarter valued at approximately $21,559,000. 683 Capital Management LLC raised its holdings 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 buying an additional 304,373 shares during the period. JPMorgan Chase & Co. raised its holdings in AnaptysBio by 1,631.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after buying an additional 233,325 shares during the period. Finally, Voloridge Investment Management LLC lifted its position in AnaptysBio by 2,358.3% in the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock worth $11,109,000 after buying an additional 219,816 shares during the last quarter.
AnaptysBio Company Profile
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.