AnaptysBio, Inc. (NASDAQ:ANAB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $33.63.

Several research firms recently issued reports on ANAB. Wolfe Research assumed coverage on AnaptysBio in a research note on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price objective for the company. Wells Fargo & Company lifted their price target on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of AnaptysBio in a research report on Wednesday, February 12th. Finally, Guggenheim reissued a “buy” rating on shares of AnaptysBio in a report on Monday, March 3rd.

AnaptysBio Stock Up 1.3 %

ANAB stock opened at $18.10 on Wednesday. AnaptysBio has a twelve month low of $12.21 and a twelve month high of $41.31. The firm has a market capitalization of $555.07 million, a PE ratio of -2.98 and a beta of -0.09. The stock has a 50-day simple moving average of $17.39 and a two-hundred day simple moving average of $20.27.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The company had revenue of $43.11 million during the quarter, compared to analysts’ expectations of $10.17 million. On average, equities research analysts anticipate that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its Board of Directors has initiated a share buyback plan on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in AnaptysBio by 191.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock worth $1,130,000 after purchasing an additional 22,164 shares during the period. Victory Capital Management Inc. grew its holdings in shares of AnaptysBio by 41.0% in the fourth quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock worth $4,428,000 after purchasing an additional 97,200 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of AnaptysBio in the fourth quarter worth $311,000. Geode Capital Management LLC raised its holdings in AnaptysBio by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 465,401 shares of the biotechnology company’s stock valued at $15,594,000 after buying an additional 13,336 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 4,237 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.