Analysts Set AnaptysBio, Inc. (NASDAQ:ANAB) Target Price at $35.11

Shares of AnaptysBio, Inc. (NASDAQ:ANAB) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $35.11.

Several equities analysts have issued reports on ANAB shares. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a research report on Wednesday, February 12th. Guggenheim reaffirmed a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. Wells Fargo & Company upped their price target on AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wolfe Research initiated coverage on AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB opened at $18.19 on Friday. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $41.31. The company has a market capitalization of $557.83 million, a PE ratio of -2.99 and a beta of 0.02. The company has a fifty day moving average of $17.00 and a 200-day moving average of $22.19.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) EPS for the quarter, beating 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 return on equity of 287.94% and a negative net margin of 289.75%. On average, equities analysts forecast that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its board has authorized a stock repurchase plan on Monday, March 24th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc purchased 6,646 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was acquired at an average price of $12.95 per share, for a total transaction of $86,065.70. Following the purchase, the director now owns 7,880,094 shares of the company’s stock, valued at $102,047,217.30. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of AnaptysBio by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company’s stock worth $880,000 after purchasing an additional 528 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in AnaptysBio by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock worth $85,000 after buying an additional 644 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after buying an additional 936 shares in the last quarter. Rhumbline Advisers lifted its position in shares of AnaptysBio by 3.8% during the fourth quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock valued at $398,000 after purchasing an additional 1,111 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of AnaptysBio by 10.3% in the fourth quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 1,359 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.