AnaptysBio (NASDAQ:ANAB) Releases Earnings Results, Beats Expectations By $0.02 EPS

AnaptysBio (NASDAQ:ANAB) issued its quarterly earnings data on Monday. The biotechnology company reported ($1.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.02, Zacks reports. The business had revenue of $27.77 million for the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB opened at $20.69 on Tuesday. The stock has a market capitalization of $611.89 million, a price-to-earnings ratio of -3.56 and a beta of -0.20. The company’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $18.91. AnaptysBio has a 1 year low of $12.21 and a 1 year high of $41.31.

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

Analyst Ratings Changes

ANAB has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “neutral” rating and issued a $22.00 price target on shares of AnaptysBio in a report on Tuesday, March 4th. Wedbush restated an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a research note on Thursday, May 1st. Johnson Rice reissued a “buy” rating on shares of AnaptysBio in a report on Wednesday, March 26th. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. Finally, Wells Fargo & Company raised their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AnaptysBio has an average rating of “Moderate Buy” and a consensus price target of $33.63.

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.