Royal Bank Of Canada Begins Coverage on AnaptysBio, Inc. (ANAB)
Royal Bank Of Canada initiated coverage on shares of AnaptysBio, Inc. (NASDAQ:ANAB) in a research note released on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $40.00 price objective on the biotechnology company’s stock.
Several other equities analysts have also commented on ANAB. Zacks Investment Research raised AnaptysBio from a sell rating to a hold rating in a research report on Monday, May 29th. Robert W. Baird initiated coverage on AnaptysBio in a research report on Monday, July 10th. They issued an outperform rating and a $36.00 price target for the company. Credit Suisse Group lifted their price target on AnaptysBio from $34.00 to $38.00 and gave the stock an outperform rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $35.00 price target on shares of AnaptysBio in a research report on Tuesday, September 12th. Seven investment analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus price target of $36.86.
Shares of AnaptysBio (ANAB) opened at 32.07 on Thursday. AnaptysBio has a 52 week low of $15.17 and a 52 week high of $33.58. The firm’s 50-day moving average is $32.12 and its 200-day moving average is $28.11. The company’s market cap is $652.37 million.
AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.29. The firm had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $3.45 million. Equities research analysts predict that AnaptysBio will post ($1.98) earnings per share for the current year.
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In related news, major shareholder Ventures Vii L. P. Avalon sold 37,040 shares of AnaptysBio stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $24.35, for a total value of $901,924.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings A/S Novo sold 491,294 shares of AnaptysBio stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $21.12, for a total value of $10,376,129.28. Following the completion of the sale, the insider now owns 2,952,527 shares of the company’s stock, valued at $62,357,370.24. The disclosure for this sale can be found here. Insiders sold a total of 1,133,940 shares of company stock valued at $24,223,316 over the last quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANAB. Frazier Management LLC bought a new stake in AnaptysBio in the 1st quarter worth about $102,354,000. Perceptive Advisors LLC bought a new stake in shares of AnaptysBio during the 1st quarter valued at about $24,474,000. Marshall Wace North America L.P. bought a new stake in shares of AnaptysBio during the 1st quarter valued at about $6,924,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of AnaptysBio during the 1st quarter valued at about $6,924,000. Finally, Artal Group S.A. grew its stake in shares of AnaptysBio by 459.4% during the 2nd quarter. Artal Group S.A. now owns 250,000 shares of the biotechnology company’s stock valued at $5,983,000 after purchasing an additional 205,310 shares during the period. Institutional investors own 71.35% of the company’s stock.
AnaptysBio, Inc is a United States-based biotechnology company. The Company is engaged in developing antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. The Company develops its product candidates using its antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation.
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