Wedbush Forecasts AnaptysBio’s FY2024 Earnings (NASDAQ:ANAB)

AnaptysBio, Inc. (NASDAQ:ANAB) – Research analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of AnaptysBio in a research report issued on Wednesday, December 11th. Wedbush analyst D. Nierengarten now expects that the biotechnology company will earn ($5.91) per share for the year, down from their previous estimate of ($5.22). Wedbush has a “Outperform” rating and a $40.00 price objective on the stock. The consensus estimate for AnaptysBio’s current full-year earnings is ($6.02) per share. Wedbush also issued estimates for AnaptysBio’s Q4 2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.98) EPS, Q3 2025 earnings at ($1.00) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($3.96) EPS, FY2026 earnings at ($4.06) EPS, FY2027 earnings at ($4.31) EPS and FY2028 earnings at ($4.96) EPS.

Several other research analysts have also issued reports on ANAB. Wells Fargo & Company reduced their price target on AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. HC Wainwright downgraded AnaptysBio from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $19.00 in a research note on Wednesday, December 11th. UBS Group boosted their target price on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BTIG Research lowered AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and a consensus target price of $45.09.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $16.65 on Monday. The company’s 50 day simple moving average is $25.56 and its 200 day simple moving average is $29.51. AnaptysBio has a fifty-two week low of $14.20 and a fifty-two week high of $41.31. The firm has a market capitalization of $506.64 million, a P/E ratio of -2.76 and a beta of -0.11.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.72) by $0.58. The business had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. grew its holdings in AnaptysBio by 2.0% during the third quarter. Frazier Life Sciences Management L.P. now owns 2,209,189 shares of the biotechnology company’s stock worth $74,008,000 after purchasing an additional 43,598 shares during the period. Ensign Peak Advisors Inc lifted its position in shares of AnaptysBio by 74.4% in the second quarter. Ensign Peak Advisors Inc now owns 75,755 shares of the biotechnology company’s stock valued at $1,898,000 after buying an additional 32,313 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of AnaptysBio by 202.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 54,200 shares of the biotechnology company’s stock worth $1,816,000 after acquiring an additional 36,300 shares during the period. Victory Capital Management Inc. increased its holdings in shares of AnaptysBio by 677.9% during the 3rd quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company’s stock worth $7,948,000 after acquiring an additional 206,750 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of AnaptysBio by 55.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company’s stock worth $15,927,000 after acquiring an additional 168,813 shares during the last quarter.

Insider Transactions at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the transaction, the insider now directly owns 15,398 shares in the company, valued at approximately $595,440.66. The trade was a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 33.70% of the stock is currently owned by insiders.

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.