Brokerages Set AnaptysBio, Inc. (NASDAQ:ANAB) Target Price at $81.82

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $81.8182.

A number of brokerages recently commented on ANAB. HC Wainwright initiated coverage on AnaptysBio in a report on Wednesday, June 10th. They set a “buy” rating and a $95.00 price target on the stock. UBS Group raised their target price on AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Truist Financial upgraded AnaptysBio to a “hold” rating in a research note on Wednesday, March 25th. Wall Street Zen downgraded shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Piper Sandler lowered their price objective on shares of AnaptysBio from $95.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th.

Institutional Trading of AnaptysBio

A number of large investors have recently bought and sold shares of ANAB. Granahan Investment Management LLC lifted its position in shares of AnaptysBio by 12.2% during the third quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock worth $4,525,000 after acquiring an additional 16,118 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AnaptysBio by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock valued at $74,855,000 after purchasing an additional 67,048 shares in the last quarter. Sofinnova Investments Inc. raised its stake in shares of AnaptysBio by 13.1% during the 4th quarter. Sofinnova Investments Inc. now owns 287,690 shares of the biotechnology company’s stock valued at $13,947,000 after purchasing an additional 33,422 shares during the period. 683 Capital Management LLC raised its stake in shares of AnaptysBio by 18.5% during the 4th quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock valued at $31,420,000 after purchasing an additional 101,093 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in AnaptysBio by 56.0% during the 4th quarter. BNP Paribas Financial Markets now owns 164,823 shares of the biotechnology company’s stock worth $7,991,000 after purchasing an additional 59,160 shares in the last quarter.

AnaptysBio Stock Down 10.5%

ANAB stock opened at $62.51 on Friday. AnaptysBio has a twelve month low of $11.40 and a twelve month high of $72.36. The firm has a market capitalization of $1.85 billion, a PE ratio of -57.88 and a beta of 0.68. The stock’s 50 day moving average is $60.21 and its 200-day moving average is $57.23.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The business had revenue of $25.56 million for the quarter, compared to analysts’ expectations of $18.86 million. On average, equities research analysts anticipate that AnaptysBio will post -1.35 earnings per share for the current fiscal year.

AnaptysBio declared that its board has approved a stock repurchase plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

About AnaptysBio

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.