AnaptysBio (NASDAQ:ANAB) Price Target Raised to $75.00 at Wedbush

AnaptysBio (NASDAQ:ANAB) had its price target increased by Wedbush from $60.00 to $75.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Several other research firms have also weighed in on ANAB. HC Wainwright boosted their price objective on shares of AnaptysBio from $51.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. UBS Group initiated coverage on shares of AnaptysBio in a research note on Wednesday, January 7th. They issued a “buy” rating and a $70.00 target price for the company. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Barclays upped 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. Finally, Stifel Nicolaus raised their price objective on AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Nine research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.22.

AnaptysBio Trading Down 1.4%

NASDAQ ANAB opened at $63.79 on Thursday. AnaptysBio has a 12 month low of $15.32 and a 12 month high of $66.66. The stock has a 50 day moving average of $51.35 and a 200-day moving average of $40.21. The company has a market cap of $1.83 billion, a PE ratio of -122.67 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, topping analysts’ consensus estimates of $0.89 by $0.69. The business had revenue of $108.25 million for the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. As a group, sell-side analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its Board of Directors has approved a share buyback plan on Friday, November 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at AnaptysBio

In other AnaptysBio news, Director Magda Marquet sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $48.23, for a total transaction of $530,530.00. Following the completion of the sale, the director directly owned 9,930 shares in the company, valued at $478,923.90. This trade represents a 52.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Faga sold 15,309 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $43.26, for a total value of $662,267.34. Following the transaction, the chief executive officer owned 458,139 shares in the company, valued at approximately $19,819,093.14. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,280 shares of company stock valued at $7,254,939 in the last 90 days. Insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ANAB. Caitong International Asset Management Co. Ltd lifted its holdings in shares of AnaptysBio by 940.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock worth $74,000 after buying an additional 1,383 shares in the last quarter. Invesco Ltd. grew its stake in shares of AnaptysBio by 192.6% in the fourth quarter. Invesco Ltd. now owns 124,006 shares of the biotechnology company’s stock valued at $6,012,000 after acquiring an additional 81,625 shares in the last quarter. Mackenzie Financial Corp bought a new position in AnaptysBio during the fourth quarter worth about $1,166,000. XTX Topco Ltd raised its stake in AnaptysBio by 113.3% in the 4th quarter. XTX Topco Ltd now owns 38,637 shares of the biotechnology company’s stock worth $1,873,000 after purchasing an additional 20,526 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in AnaptysBio in the 4th quarter worth about $215,000.

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.