AnaptysBio (NASDAQ:ANAB) Receives “Buy” Rating from HC Wainwright

AnaptysBio (NASDAQ:ANAB)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $95.00 target price on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 84.00% from the company’s current price.

A number of other brokerages have also recently commented on ANAB. Barclays increased their price objective on shares of AnaptysBio from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Piper Sandler reduced their price target on shares of AnaptysBio from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. Weiss Ratings lowered shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Truist Financial raised shares of AnaptysBio to a “hold” rating in a research note on Wednesday, March 25th. Finally, UBS Group lifted their price objective on AnaptysBio from $60.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.82.

AnaptysBio Price Performance

ANAB opened at $51.63 on Wednesday. AnaptysBio has a 1-year low of $11.40 and a 1-year high of $72.36. The stock has a market cap of $1.50 billion, a P/E ratio of -47.81 and a beta of 0.72. The stock’s 50 day simple moving average is $60.44 and its 200 day simple moving average is $54.20.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%.The firm had revenue of $25.56 million for the quarter, compared to analysts’ expectations of $18.86 million. Research analysts expect that AnaptysBio will post -0.93 EPS for the current fiscal year.

AnaptysBio announced that its board has approved a stock buyback program on Friday, March 27th that permits the company to repurchase $100,000.00 billion in shares. This repurchase authorization permits the biotechnology company to repurchase up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at AnaptysBio

In related news, CEO Daniel Faga sold 17,679 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 495,965 shares in the company, valued at approximately $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Schmid sold 20,645 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 31,622 shares in the company, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ANAB. Smartleaf Asset Management LLC grew its holdings in AnaptysBio by 5,864.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 821 shares during the period. Larson Financial Group LLC raised its stake in AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares during the period. Bessemer Group Inc. boosted its holdings in shares of AnaptysBio by 950.0% in the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 1,292 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of AnaptysBio by 11,630.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 2,326 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.