AnaptysBio (NASDAQ:ANAB) Price Target Raised to $95.00

AnaptysBio (NASDAQ:ANAB) had its target price lifted by Piper Sandler from $67.00 to $95.00 in a research note published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

A number of other brokerages have also recently issued reports on ANAB. Wall Street Zen cut shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Stifel Nicolaus raised their price target on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. UBS Group lifted their price objective on shares of AnaptysBio from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. Truist Financial upgraded shares of AnaptysBio to a “hold” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.10.

AnaptysBio Trading Up 1.7%

Shares of NASDAQ ANAB opened at $57.68 on Tuesday. The firm has a market cap of $1.66 billion, a P/E ratio of -110.92 and a beta of 0.40. The business’s 50 day moving average is $56.08 and its 200-day moving average is $44.42. AnaptysBio has a 1-year low of $15.40 and a 1-year high of $68.39.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.69. The business had revenue of $108.25 million during the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. Analysts forecast that AnaptysBio will post -6.08 EPS for the current year.

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

Insider Activity

In other news, Director Magda Marquet sold 11,000 shares of the business’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 value of $530,530.00. Following the completion of the transaction, the director directly owned 9,930 shares in the company, valued at approximately $478,923.90. The trade was a 52.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the sale, the chief executive officer directly owned 495,965 shares of the company’s stock, valued at approximately $30,556,403.65. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 130,838 shares of company stock valued at $6,491,529. Company insiders own 33.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANAB. Vanguard Group Inc. boosted its holdings in shares of AnaptysBio by 4.5% in the 4th 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. State Street Corp increased its stake in shares of AnaptysBio by 20.6% in the 4th quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock valued at $51,072,000 after purchasing an additional 180,042 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of 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 buying an additional 822,975 shares in the last quarter. 683 Capital Management LLC lifted its position 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 worth $31,420,000 after buying an additional 101,093 shares during the last quarter. Finally, Affinity Asset Advisors LLC bought a new stake in shares of AnaptysBio during the 4th quarter worth $21,559,000.

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.