AnaptysBio, Inc. (NASDAQ:ANAB) Receives $46.22 Average Price Target from Brokerages

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $46.22.

Several equities research analysts recently issued reports on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of AnaptysBio in a research note on Tuesday, April 16th. Piper Sandler began coverage on AnaptysBio in a research note on Friday, February 16th. They issued an “overweight” rating and a $80.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on AnaptysBio from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 1st. BTIG Research initiated coverage on AnaptysBio in a research report on Monday, February 26th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Wells Fargo & Company initiated coverage on AnaptysBio in a research note on Thursday, April 11th. They set an “overweight” rating and a $56.00 target price for the company.

Insider Activity

In related news, CEO Daniel Faga sold 145,940 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $22.78, for a total transaction of $3,324,513.20. Following the transaction, the chief executive officer now directly owns 752,087 shares in the company, valued at $17,132,541.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AnaptysBio news, insider Eric J. Loumeau sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the insider now owns 3,240 shares of the company’s stock, valued at $81,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Faga sold 145,940 shares of AnaptysBio stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $22.78, for a total value of $3,324,513.20. Following the completion of the transaction, the chief executive officer now owns 752,087 shares of the company’s stock, valued at $17,132,541.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,940 shares of company stock worth $3,513,773. 35.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANAB. First Light Asset Management LLC increased its position in AnaptysBio by 56.4% in the fourth quarter. First Light Asset Management LLC now owns 1,237,178 shares of the biotechnology company’s stock worth $26,500,000 after buying an additional 446,372 shares during the period. Great Point Partners LLC grew its position in shares of AnaptysBio by 9.2% during the fourth quarter. Great Point Partners LLC now owns 976,981 shares of the biotechnology company’s stock worth $20,927,000 after acquiring an additional 82,648 shares during the last quarter. Eventide Asset Management LLC bought a new stake in AnaptysBio in the 3rd quarter valued at about $7,669,000. Franklin Resources Inc. boosted its stake in AnaptysBio by 22.7% during the 4th quarter. Franklin Resources Inc. now owns 405,115 shares of the biotechnology company’s stock valued at $8,678,000 after purchasing an additional 75,025 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in AnaptysBio by 4.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 206,785 shares of the biotechnology company’s stock worth $3,714,000 after purchasing an additional 8,064 shares during the last quarter.

AnaptysBio Stock Performance

AnaptysBio stock opened at $26.58 on Wednesday. The firm has a market capitalization of $726.17 million, a PE ratio of -4.37 and a beta of -0.32. AnaptysBio has a one year low of $13.36 and a one year high of $27.50. The stock’s 50 day moving average price is $22.93 and its 200 day moving average price is $20.81.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, March 11th. The biotechnology company reported ($1.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.74) by $0.15. AnaptysBio had a negative net margin of 953.66% and a negative return on equity of 119.42%. The company had revenue of $9.01 million for the quarter, compared to analyst estimates of $3.28 million. On average, analysts forecast that AnaptysBio will post -6.17 earnings per share for the current fiscal year.

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.