AnaptysBio, Inc. (NASDAQ:ANAB) Receives $42.38 Average Target Price from Brokerages

AnaptysBio, Inc. (NASDAQ:ANAB) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $42.38.

Several research firms recently commented on ANAB. JPMorgan Chase & Co. raised their price target on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. HC Wainwright upgraded shares of AnaptysBio from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $38.00 in a research report on Wednesday, June 4th. Wedbush reissued an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a research note on Thursday, May 29th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. Finally, Johnson Rice reissued a “buy” rating on shares of AnaptysBio in a research report on Wednesday, March 26th.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds have recently bought and sold shares of ANAB. US Bancorp DE boosted its stake in shares of AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 979 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in AnaptysBio by 9,778.9% in the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 1,858 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 1,531 shares during the period. KLP Kapitalforvaltning AS acquired a new position in AnaptysBio during the fourth quarter valued at approximately $40,000. Finally, AlphaQuest LLC grew its holdings in AnaptysBio by 1,891.5% during the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 4,237 shares during the last quarter.

AnaptysBio Stock Up 5.4%

Shares of AnaptysBio stock opened at $23.88 on Monday. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $41.31. The stock has a market cap of $701.59 million, a PE ratio of -4.92 and a beta of -0.27. The business has a fifty day simple moving average of $21.80 and a 200-day simple moving average of $18.49.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 282.47% and a negative net margin of 125.70%. The firm had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. Analysts expect that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a share buyback program on Monday, March 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the biotechnology company to repurchase up to 13.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

AnaptysBio Company Profile

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.