Piper Sandler Issues Positive Forecast for AnaptysBio (NASDAQ:ANAB) Stock Price

AnaptysBio (NASDAQ:ANAB) had its target price hoisted by Piper Sandler from $67.00 to $95.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

ANAB has been the subject of a number of other reports. Wedbush raised their target price on AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. UBS Group upped their price target on AnaptysBio from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 17th. Barclays increased their price target on AnaptysBio from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Truist Financial raised AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. Finally, Stifel Nicolaus upped their price objective on shares of AnaptysBio from $56.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.10.

AnaptysBio Stock Up 0.1%

ANAB stock opened at $55.46 on Tuesday. The business has a 50 day moving average of $55.67 and a 200-day moving average of $44.24. AnaptysBio has a 12-month low of $15.40 and a 12-month high of $68.39. The firm has a market cap of $1.59 billion, a PE ratio of -106.65 and a beta of 0.32.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.69. The firm had revenue of $108.25 million during the quarter, compared to analyst estimates of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. On average, research analysts expect that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its Board of Directors has initiated a stock repurchase plan on Friday, March 27th that authorizes the company to buyback $100,000.00 billion in shares. This buyback authorization authorizes the biotechnology company to repurchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Paul F. Lizzul sold 3,650 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $44.71, for a total transaction of $163,191.50. Following the transaction, the insider directly owned 42,088 shares of the company’s stock, valued at approximately $1,881,754.48. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Magda Marquet sold 11,000 shares of AnaptysBio stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $48.23, for a total value of $530,530.00. Following the completion of the transaction, the director directly owned 9,930 shares in the company, valued at $478,923.90. This trade represents a 52.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 110,193 shares of company stock worth $5,333,138. Corporate insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its stake in AnaptysBio by 1.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock valued at $732,000 after acquiring an additional 225 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of AnaptysBio by 24.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 263 shares during the period. Larson Financial Group LLC boosted its position in shares of AnaptysBio by 21.2% during the 4th quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 284 shares in the last quarter. Susquehanna Portfolio Strategies LLC boosted its holdings in AnaptysBio by 1.4% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock worth $1,743,000 after buying an additional 500 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 821 shares in the last quarter.

About AnaptysBio

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.