Brokerages Set AnaptysBio, Inc. (NASDAQ:ANAB) Target Price at $35.11

AnaptysBio, Inc. (NASDAQ:ANAB) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $35.11.

Several equities research analysts recently commented on the company. Truist Financial cut their target price on AnaptysBio from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. BTIG Research cut shares of AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. Wells Fargo & Company upped their price objective on shares of AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of AnaptysBio in a research report on Wednesday, February 12th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a report on Tuesday, March 4th.

AnaptysBio Price Performance

Shares of ANAB stock opened at $18.71 on Friday. AnaptysBio has a one year low of $12.21 and a one year high of $41.31. The business’s 50 day simple moving average is $16.88 and its 200 day simple moving average is $22.34. The stock has a market capitalization of $573.78 million, a PE ratio of -3.08 and a beta of 0.02.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($1.61) by $0.89. The company had revenue of $43.11 million during the quarter, compared to analysts’ expectations of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. As a group, research analysts expect that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has authorized a stock repurchase plan on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to repurchase up to 13.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at AnaptysBio

In related news, Director Ecor1 Capital, Llc purchased 6,646 shares of AnaptysBio stock in a transaction that occurred on Thursday, January 2nd. The stock was bought at an average price of $12.95 per share, for a total transaction of $86,065.70. Following the completion of the transaction, the director now owns 7,880,094 shares in the company, valued at $102,047,217.30. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of AnaptysBio by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock valued at $880,000 after buying an additional 528 shares in the last quarter. California State Teachers Retirement System grew its position in shares of AnaptysBio by 10.3% in the fourth quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 1,359 shares in the last quarter. Woodline Partners LP raised its stake in shares of AnaptysBio by 5.5% during the 4th quarter. Woodline Partners LP now owns 485,073 shares of the biotechnology company’s stock valued at $6,422,000 after purchasing an additional 25,094 shares during the period. Soleus Capital Management L.P. purchased a new stake in AnaptysBio during the 4th quarter worth about $5,481,000. Finally, Squarepoint Ops LLC boosted its stake in AnaptysBio by 81.7% in the 4th quarter. Squarepoint Ops LLC now owns 80,870 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 36,365 shares during the period.

AnaptysBio Company Profile

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.