Wells Fargo & Company Increases AnaptysBio (NASDAQ:ANAB) Price Target to $81.00

AnaptysBio (NASDAQ:ANAB) had its target price raised by investment analysts at Wells Fargo & Company from $51.00 to $81.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 133.72% from the company’s current price.

A number of other brokerages also recently commented on ANAB. Stifel Nicolaus lifted their price objective on shares of AnaptysBio from $55.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Guggenheim lifted their price objective on shares of AnaptysBio from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group reissued a “neutral” rating and issued a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. Finally, Wedbush raised their target price on shares of AnaptysBio from $45.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AnaptysBio presently has a consensus rating of “Moderate Buy” and an average target price of $61.30.

AnaptysBio Trading Down 0.2%

Shares of ANAB stock traded down $0.08 during trading hours on Wednesday, hitting $34.66. 46,622 shares of the company were exchanged, compared to its average volume of 698,062. The business has a 50 day moving average of $27.75 and a two-hundred day moving average of $24.37. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $39.78. The company has a market capitalization of $970.40 million, a PE ratio of -7.74 and a beta of 0.16.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The business had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. On average, research analysts forecast that AnaptysBio will post -6.08 EPS for the current year.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its holdings in shares of AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 1,292 shares during the last quarter. AlphaQuest LLC bought a new stake in AnaptysBio during the 3rd quarter worth approximately $277,000. New York State Common Retirement Fund grew its holdings in AnaptysBio by 33.6% during the 3rd quarter. New York State Common Retirement Fund now owns 10,586 shares of the biotechnology company’s stock worth $324,000 after acquiring an additional 2,662 shares during the last quarter. Federated Hermes Inc. grew its holdings in AnaptysBio by 2,236.6% during the 3rd quarter. Federated Hermes Inc. now owns 193,327 shares of the biotechnology company’s stock worth $5,920,000 after acquiring an additional 185,053 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of AnaptysBio by 131,540.0% in the 3rd quarter. Covestor Ltd now owns 6,582 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 6,577 shares during the period.

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.