AnaptysBio (NASDAQ:ANAB) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of AnaptysBio (NASDAQ:ANAB) in a research report report published on Thursday,RTT News reports. They currently have a $40.00 target price on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on the company. Johnson Rice restated a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. HC Wainwright restated a “neutral” rating and set a $22.00 target price on shares of AnaptysBio in a research note on Tuesday, March 4th. Wolfe Research began coverage on AnaptysBio in a research note on Tuesday, February 4th. They set an “outperform” rating and a $25.00 target price for the company. JPMorgan Chase & Co. boosted their target price on AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Guggenheim reiterated a “buy” rating and issued a $90.00 price objective (up previously from $54.00) on shares of AnaptysBio in a research note on Wednesday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.38.

AnaptysBio Stock Down 0.5%

ANAB stock opened at $22.45 on Thursday. The business has a 50 day moving average price of $19.73 and a 200 day moving average price of $18.25. The stock has a market cap of $659.58 million, a price-to-earnings ratio of -3.69 and a beta of -0.20. AnaptysBio has a fifty-two week low of $12.21 and a fifty-two week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.02. The firm had revenue of $27.77 million during the quarter, compared to analysts’ expectations of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. As a group, sell-side analysts anticipate that AnaptysBio will post -6.08 EPS for the current year.

AnaptysBio announced that its board has initiated a share repurchase plan on Monday, March 24th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of AnaptysBio

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of AnaptysBio by 0.8% during the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock valued at $880,000 after purchasing an additional 528 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in 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 purchasing an additional 644 shares during the period. Rhumbline Advisers boosted its holdings in shares of AnaptysBio by 2.7% during the first quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company’s stock valued at $574,000 after acquiring an additional 826 shares during the period. Virtus ETF Advisers LLC boosted its holdings in shares of AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 936 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of AnaptysBio by 126.5% during the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 979 shares during the period.

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.