AnaptysBio (NASDAQ:ANAB) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of AnaptysBio (NASDAQ:ANAB) in a research note issued to investors on Monday,Benzinga reports. Wedbush currently has a $50.00 target price on the biotechnology company’s stock.

Several other research firms also recently commented on ANAB. Barclays reduced their price target 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. UBS Group reissued a “neutral” rating and issued a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a research report on Tuesday, August 12th. Wall Street Zen raised AnaptysBio from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. HC Wainwright decreased their target price on shares of AnaptysBio from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Monday. Finally, Truist Financial upped their price objective on shares of AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.30.

AnaptysBio Stock Performance

ANAB stock opened at $41.95 on Monday. The firm has a fifty day moving average price of $31.92 and a 200 day moving average price of $25.91. The firm has a market cap of $1.16 billion, a PE ratio of -14.88 and a beta of 0.16. AnaptysBio has a fifty-two week low of $12.21 and a fifty-two week high of $43.31.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $1.58. The firm had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. On average, equities analysts predict that AnaptysBio will post -6.08 EPS for the current year.

AnaptysBio announced that its Board of Directors has initiated a stock buyback program on Friday, November 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the biotechnology company to buy up to 9.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On AnaptysBio

Institutional investors have recently modified their holdings of the company. First Light Asset Management LLC grew its position in shares of AnaptysBio by 433.3% in the 1st quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock valued at $86,139,000 after buying an additional 3,764,720 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of AnaptysBio by 4,852.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock worth $25,719,000 after buying an additional 822,975 shares in the last quarter. Caption Management LLC increased its position in AnaptysBio by 106.3% during the 1st quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company’s stock worth $435,000 after purchasing an additional 394,634 shares in the last quarter. Woodline Partners LP grew its position in shares of AnaptysBio by 63.1% in the first quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock valued at $14,705,000 after purchasing an additional 305,950 shares during the period. Finally, 683 Capital Management LLC grew its holdings in AnaptysBio by 155.6% in the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock valued at $11,100,000 after purchasing an additional 304,373 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.