AnaptysBio, Inc. (NASDAQ:ANAB) Receives $35.88 Consensus Target Price from Analysts

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.88.

ANAB has been the subject of several research reports. Guggenheim increased their price objective on AnaptysBio from $52.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Johnson Rice reissued a “buy” rating on shares of AnaptysBio in a report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price objective on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Wolfe Research assumed coverage on AnaptysBio in a report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price objective for the company.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of AnaptysBio by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock worth $880,000 after buying an additional 528 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of AnaptysBio by 11.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock worth $85,000 after buying an additional 644 shares in the last quarter. Rhumbline Advisers raised its position in shares of AnaptysBio by 2.7% in the first quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company’s stock worth $574,000 after buying an additional 826 shares in the last quarter. Virtus ETF Advisers LLC raised its position in shares of AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after buying an additional 936 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after buying an additional 979 shares in the last quarter.

AnaptysBio Stock Down 0.9%

ANAB stock opened at $20.22 on Friday. The firm has a market cap of $594.06 million, a PE ratio of -3.33 and a beta of -0.20. The business has a 50 day moving average of $18.97 and a 200-day moving average of $18.27. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million. On average, research analysts expect that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has initiated a stock repurchase program on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.