AnaptysBio, Inc. (NASDAQ:ANAB) Receives $80.10 Consensus Target Price from Brokerages

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $80.10.

ANAB has been the subject of several recent research reports. Truist Financial raised AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Wall Street Zen lowered AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Stifel Nicolaus upped their target price on AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $66.00 price objective on shares of AnaptysBio in a report on Monday, March 30th.

AnaptysBio Trading Down 0.5%

NASDAQ:ANAB opened at $62.13 on Wednesday. The firm has a market capitalization of $1.79 billion, a PE ratio of -119.48 and a beta of 0.40. The stock has a 50 day moving average of $56.84 and a 200-day moving average of $45.61. AnaptysBio has a 52 week low of $15.40 and a 52 week high of $68.39.

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

AnaptysBio declared that its Board of Directors has initiated a share repurchase program on Friday, March 27th that allows the company to repurchase $100,000.00 billion in shares. This repurchase authorization allows the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director John P. Schmid sold 20,645 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $56.11, for a total value of $1,158,390.95. Following the completion of the transaction, the director directly owned 31,622 shares of the company’s stock, valued at $1,774,310.42. This represents a 39.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total value of $540,000.00. Following the completion of the transaction, the insider directly owned 12,835 shares of the company’s stock, valued at $693,090. This trade represents a 43.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 81,980 shares of company stock worth $4,331,074. 33.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its position in AnaptysBio by 1.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after purchasing an additional 225 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in AnaptysBio by 24.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 263 shares during the period. Larson Financial Group LLC lifted its position in AnaptysBio by 21.2% in the fourth quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 284 shares during the period. Susquehanna Portfolio Strategies LLC lifted its position in AnaptysBio by 1.4% in the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock worth $1,743,000 after purchasing an additional 500 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in AnaptysBio by 5,864.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 821 shares during the period.

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.