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

AnaptysBio (NASDAQ:ANAB) had its price objective lifted by UBS Group from $23.00 to $33.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price target points to a potential upside of 52.57% from the company’s current price.

Several other brokerages have also weighed in on ANAB. Guggenheim upped their target price on AnaptysBio from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of AnaptysBio in a report on Wednesday, August 14th. Truist Financial lifted their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of AnaptysBio in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.73.

AnaptysBio Stock Performance

Shares of ANAB opened at $21.63 on Wednesday. The company has a market capitalization of $590.91 million, a PE ratio of -3.52 and a beta of -0.29. The company’s 50 day moving average price is $34.60 and its 200 day moving average price is $29.82. AnaptysBio has a 52 week low of $13.36 and a 52 week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.89) by ($0.82). AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. The company had revenue of $10.97 million for the quarter, compared to analysts’ expectations of $25.85 million. On average, equities analysts forecast that AnaptysBio will post -6.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Dennis Mulroy sold 12,220 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, the chief financial officer now directly owns 4,744 shares in the company, valued at $189,333.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ecor1 Capital, Llc acquired 273,972 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the purchase, the insider now owns 7,794,996 shares of the company’s stock, valued at $284,517,354. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 22,440 shares of company stock valued at $892,936 in the last quarter. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANAB. Allspring Global Investments Holdings LLC acquired a new stake in AnaptysBio during the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of AnaptysBio during the 1st quarter worth approximately $265,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of AnaptysBio during the first quarter valued at approximately $1,221,000. Acadian Asset Management LLC acquired a new position in shares of AnaptysBio in the first quarter valued at $420,000. Finally, Platinum Investment Management Ltd. bought a new position in AnaptysBio in the first quarter worth $1,490,000.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.