AnaptysBio’s (ANAB) Buy Rating Reaffirmed at HC Wainwright

AnaptysBio (NASDAQ:ANAB)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $95.00 target price on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 84.00% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Piper Sandler decreased their target price on AnaptysBio from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Zacks Research downgraded AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Stifel Nicolaus raised their target price on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Leerink Partners set a $90.00 target price on shares of AnaptysBio in a report on Friday, May 15th. Finally, UBS Group upped their price target on shares of AnaptysBio from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.82.

AnaptysBio Stock Up 0.5%

Shares of ANAB opened at $51.63 on Wednesday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -47.81 and a beta of 0.72. AnaptysBio has a 52-week low of $11.40 and a 52-week high of $72.36. The stock has a 50 day moving average price of $60.44 and a 200 day moving average price of $54.20.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($0.64) by ($1.20). AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%.The company had revenue of $25.56 million for the quarter, compared to analyst estimates of $18.86 million. On average, equities analysts anticipate that AnaptysBio will post -0.93 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the company’s stock in a transaction on Friday, March 27th. The shares were 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 owned 495,965 shares in the company, valued at approximately $30,556,403.65. This represents a 3.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Schmid sold 20,645 shares of AnaptysBio stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $56.11, for a total transaction of $1,158,390.95. Following the completion of the sale, the director directly owned 31,622 shares in the company, valued at approximately $1,774,310.42. The trade was a 39.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in AnaptysBio by 153.3% during the first quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company’s stock worth $558,000 after acquiring an additional 18,165 shares during the period. Creative Planning boosted its position in shares of AnaptysBio by 26.9% during the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company’s stock worth $374,000 after purchasing an additional 3,571 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AnaptysBio by 1,631.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company’s stock worth $5,497,000 after purchasing an additional 233,325 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of AnaptysBio during the 2nd quarter worth $528,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of AnaptysBio in the 2nd quarter valued at about $3,348,000.

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.