AnaptysBio (NASDAQ:ANAB) Given New $51.00 Price Target at HC Wainwright

AnaptysBio (NASDAQ:ANAB) had its price target decreased by HC Wainwright from $52.00 to $51.00 in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on ANAB. Guggenheim increased their price objective on shares of AnaptysBio from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Wells Fargo & Company upped their price target on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Wedbush reiterated an “outperform” rating and set a $50.00 price target on shares of AnaptysBio in a research report on Monday, November 10th. Barclays decreased their price objective on shares of AnaptysBio from $83.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Truist Financial upped their target price on AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. One research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.30.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB opened at $41.95 on Monday. The company has a market capitalization of $1.16 billion, a P/E ratio of -14.88 and a beta of 0.16. The business’s 50 day simple moving average is $31.92 and its 200 day simple moving average is $25.91. AnaptysBio has a 1 year low of $12.21 and a 1 year high of $43.31.

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

AnaptysBio declared that its board has initiated a share buyback program on Friday, November 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the biotechnology company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. Jacobs Levy Equity Management Inc. lifted its stake in shares of AnaptysBio by 2.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 378,452 shares of the biotechnology company’s stock valued at $11,588,000 after acquiring an additional 10,005 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in AnaptysBio during the 3rd quarter worth $315,000. Larson Financial Group LLC increased its holdings in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares in the last quarter. Granahan Investment Management LLC raised its position in AnaptysBio by 12.2% in the third quarter. Granahan Investment Management LLC now owns 147,773 shares of the biotechnology company’s stock valued at $4,525,000 after purchasing an additional 16,118 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its position in AnaptysBio by 10.2% in the third quarter. Brevan Howard Capital Management LP now owns 25,299 shares of the biotechnology company’s stock valued at $775,000 after purchasing an additional 2,346 shares during 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.