AnaptysBio (NASDAQ:ANAB) Given New $95.00 Price Target at Piper Sandler

AnaptysBio (NASDAQ:ANAB) had its target price boosted by Piper Sandler from $67.00 to $95.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price objective indicates a potential upside of 69.07% from the stock’s current price.

ANAB has been the topic of several other reports. Barclays raised their price objective on AnaptysBio from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. HC Wainwright reissued a “buy” rating and set a $66.00 target price on shares of AnaptysBio in a research note on Monday. Stifel Nicolaus increased their target price on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Wall Street Zen downgraded shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Truist Financial raised shares of AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.10.

AnaptysBio Price Performance

ANAB traded up $0.80 during trading on Tuesday, hitting $56.19. 237,828 shares of the stock traded hands, compared to its average volume of 535,472. The business has a 50 day moving average price of $55.49 and a 200 day moving average price of $44.01. AnaptysBio has a twelve month low of $15.40 and a twelve month high of $68.39. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -107.79 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The firm had revenue of $108.25 million for the quarter, compared to the consensus estimate of $87.09 million. On average, equities research analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its Board of Directors has authorized a share repurchase program on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to reacquire up to 5,352,316.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the stock in a transaction dated Friday, March 27th. The stock was sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at approximately $30,556,403.65. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul F. Lizzul sold 4,219 shares of AnaptysBio stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $43.26, for a total value of $182,513.94. Following the sale, the insider directly owned 33,303 shares in the company, valued at $1,440,687.78. The trade was a 11.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 110,193 shares of company stock worth $5,333,138. Company insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds have recently added to or reduced their stakes in ANAB. Assenagon Asset Management S.A. grew its holdings in AnaptysBio by 4,852.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after acquiring an additional 822,975 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in AnaptysBio in the 4th quarter valued at approximately $21,559,000. 683 Capital Management LLC raised its stake in shares of AnaptysBio by 155.6% during the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after acquiring an additional 304,373 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock valued at $5,497,000 after acquiring an additional 233,325 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of AnaptysBio by 2,358.3% during the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock worth $11,109,000 after purchasing an additional 219,816 shares during the period.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.