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

AnaptysBio (NASDAQ:ANAB) had its target price lowered by Barclays from $79.00 to $63.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on ANAB. Wall Street Zen downgraded AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Truist Financial upgraded shares of AnaptysBio to a “hold” rating in a research note on Wednesday, March 25th. Wedbush upped their price objective on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Stifel Nicolaus raised 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.50.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB opened at $53.55 on Wednesday. The stock has a market capitalization of $1.54 billion, a P/E ratio of -102.98 and a beta of 0.40. The business has a 50-day moving average of $59.96 and a two-hundred day moving average of $48.40. AnaptysBio has a fifty-two week low of $17.11 and a fifty-two week high of $73.30.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The business had revenue of $108.25 million for the quarter, compared to analyst estimates of $87.09 million. As a group, research analysts expect that AnaptysBio will post -2.96 EPS for the current fiscal year.

AnaptysBio announced that its board has initiated a share buyback plan on Friday, March 27th that allows the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 5,352,316.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the completion of the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at $30,556,403.65. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $54.00, for a total value of $540,000.00. Following the completion of the sale, the insider directly owned 12,835 shares of the company’s stock, valued at $693,090. This represents a 43.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,324 shares of company stock valued at $2,787,594 in the last three months. Company insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its position in AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 821 shares during the last quarter. Larson Financial Group LLC raised its position in shares of AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 473 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 1,292 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,377 shares during the period. Finally, Osaic Holdings Inc. grew its position in AnaptysBio by 11,630.0% during the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after buying an additional 2,326 shares in 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.