Stock Repurchase Program Declared by AnaptysBio (NASDAQ:ANAB) Board of Directors

AnaptysBio (NASDAQ:ANAB) declared that its Board of Directors has authorized a stock buyback plan on Friday, November 21st, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on ANAB. Wells Fargo & Company increased their target price on AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Wall Street Zen raised shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. Barclays dropped their target price on shares of AnaptysBio from $83.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Stifel Nicolaus increased their price target on shares of AnaptysBio from $55.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.40.

AnaptysBio Stock Up 5.2%

Shares of ANAB stock traded up $1.95 on Friday, reaching $39.61. The company had a trading volume of 1,525,352 shares, compared to its average volume of 642,448. The business’s 50-day moving average is $31.49 and its 200 day moving average is $25.67. AnaptysBio has a one year low of $12.21 and a one year high of $40.96. The stock has a market capitalization of $1.10 billion, a PE ratio of -14.05 and a beta of 0.16.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. The business had revenue of $76.32 million during the quarter, compared to analysts’ expectations of $15.83 million. On average, sell-side analysts forecast that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

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.