Wedbush Forecasts Strong Price Appreciation for AnaptysBio (NASDAQ:ANAB) Stock

by · The Markets Daily

AnaptysBio (NASDAQ:ANAB – Get Free Report) had its target price boosted by investment analysts at Wedbush from $60.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s price target indicates a potential upside of 21.36% from the company’s previous close.

A number of other analysts also recently issued reports on ANAB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. UBS Group began coverage on shares of AnaptysBio in a research report on Wednesday, January 7th. They set a “buy” rating and a $70.00 price objective for the company. Barclays lifted their target price 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. Finally, Truist Financial increased their price target on shares of AnaptysBio from $36.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, March 6th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.22.

Check Out Our Latest Analysis on ANAB

AnaptysBio Stock Down 4.4%

Shares of AnaptysBio stock traded down $2.87 on Thursday, hitting $61.80. 154,510 shares of the company were exchanged, compared to its average volume of 488,755. The company has a 50-day moving average price of $51.05 and a 200 day moving average price of $40.04. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -118.32 and a beta of 0.32. AnaptysBio has a 1-year low of $15.32 and a 1-year high of $66.66.

AnaptysBio (NASDAQ:ANAB – Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.89 by $0.69. The firm had revenue of $108.25 million during the quarter, compared to analysts’ expectations of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. Research analysts forecast that AnaptysBio will post -6.08 EPS for the current year.

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

Insider Buying and Selling at AnaptysBio

In other news, insider Eric J. Loumeau sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.00, for a total value of $540,000.00. Following the sale, the insider directly owned 12,835 shares of the company’s stock, valued at approximately $693,090. The trade was a 43.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Faga sold 14,281 shares of the stock in a transaction that occurred on 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 directly owned 479,344 shares of the company’s stock, valued at $21,431,470.24. The trade was a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 156,280 shares of company stock valued at $7,254,939. 33.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in AnaptysBio by 4,852.7% in the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after acquiring an additional 822,975 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of AnaptysBio in the 4th quarter valued at $21,559,000. 683 Capital Management LLC lifted its position in shares of AnaptysBio by 155.6% during the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock worth $11,100,000 after purchasing an additional 304,373 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AnaptysBio by 1,631.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after purchasing an additional 233,325 shares during the last quarter. Finally, Voloridge Investment Management LLC grew 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 worth $11,109,000 after purchasing an additional 219,816 shares in the last quarter.

AnaptysBio Company Profile

(Get Free Report)

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.

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