Barclays Cuts AnaptysBio (NASDAQ:ANAB) Price Target to $63.00

AnaptysBio (NASDAQ:ANAB) had its target price cut by Barclays from $79.00 to $63.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $66.00 price target on shares of AnaptysBio in a research report on Monday, March 30th. UBS Group dropped their price target on shares of AnaptysBio from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday. Piper Sandler lifted their target price on shares of AnaptysBio from $67.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Stifel Nicolaus lifted their target price on shares of AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Wedbush lifted their target price on shares of AnaptysBio from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AnaptysBio presently has an average rating of “Moderate Buy” and an average price target of $75.50.

AnaptysBio Price Performance

ANAB opened at $58.88 on Wednesday. The company has a fifty day moving average price of $60.00 and a 200-day moving average price of $48.61. The firm has a market capitalization of $1.69 billion, a P/E ratio of -113.23 and a beta of 0.40. AnaptysBio has a one year low of $17.11 and a one year high of $73.30.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The company had revenue of $108.25 million during the quarter, compared to analyst estimates of $87.09 million. On average, analysts expect that AnaptysBio will post -2.96 earnings per share for the current year.

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

Insider Transactions at AnaptysBio

In related news, Director John P. Schmid sold 20,645 shares of the firm’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the completion of the transaction, the director owned 31,622 shares of the company’s stock, valued at $1,774,310.42. This trade represents a 39.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric J. Loumeau sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total transaction of $540,000.00. Following the transaction, the insider directly owned 12,835 shares of the company’s stock, valued at approximately $693,090. This trade represents a 43.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,324 shares of company stock worth $2,787,594. Company insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

Several institutional investors have recently modified their holdings of ANAB. Affinity Asset Advisors LLC acquired a new stake in shares of AnaptysBio in the fourth quarter valued at about $21,559,000. JPMorgan Chase & Co. boosted its position in AnaptysBio by 1,631.6% during the second quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after acquiring an additional 233,325 shares during the last quarter. Voloridge Investment Management LLC boosted its position in AnaptysBio by 2,358.3% during the fourth quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company’s stock worth $11,109,000 after acquiring an additional 219,816 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AnaptysBio by 145.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company’s stock worth $11,343,000 after acquiring an additional 219,648 shares during the last quarter. Finally, Soleus Capital Management L.P. boosted its position in AnaptysBio by 214.6% during the second quarter. Soleus Capital Management L.P. now owns 321,040 shares of the biotechnology company’s stock worth $7,127,000 after acquiring an additional 218,988 shares during the last quarter.

AnaptysBio Company Profile

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.