Wedbush Reaffirms “Outperform” Rating for AnaptysBio (NASDAQ:ANAB)

AnaptysBio (NASDAQ:ANAB)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued on Thursday,Benzinga reports. They presently have a $40.00 price objective on the biotechnology company’s stock. Wedbush’s price objective indicates a potential upside of 88.77% from the company’s current price.

Several other research analysts also recently commented on the company. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on AnaptysBio from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Wolfe Research initiated coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target for the company. Johnson Rice reaffirmed a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Finally, HC Wainwright restated a “neutral” rating and issued a $22.00 target price on shares of AnaptysBio in a report on Tuesday, March 4th. Four equities research 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.63.

AnaptysBio Trading Down 2.4 %

NASDAQ:ANAB opened at $21.19 on Thursday. The stock’s 50-day moving average is $18.24 and its 200-day moving average is $19.23. AnaptysBio has a 1-year low of $12.21 and a 1-year high of $41.31. The stock has a market cap of $649.83 million, a P/E ratio of -3.49 and a beta of -0.09.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. The firm had revenue of $43.11 million for the quarter, compared to analyst estimates of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. As a group, equities analysts forecast that AnaptysBio will post -6.08 EPS for the current year.

AnaptysBio declared that its board has authorized a share repurchase program on Monday, March 24th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in AnaptysBio by 9,778.9% in the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 1,858 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 1,531 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of AnaptysBio during the fourth quarter worth about $40,000. AlphaQuest LLC raised its holdings in shares of AnaptysBio by 1,891.5% in the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 4,237 shares during the last quarter. Finally, Virtus ETF Advisers LLC lifted its position in AnaptysBio by 24.7% in the 4th 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 in the last quarter.

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.