AnaptysBio (NASDAQ:ANAB) Price Target Lowered to $81.00 at Leerink Partners

AnaptysBio (NASDAQ:ANAB) had its target price lowered by equities research analysts at Leerink Partners from $90.00 to $81.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Leerink Partners’ price target would suggest a potential upside of 50.22% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating on shares of AnaptysBio in a research report on Tuesday. Wolfe Research reissued an “outperform” rating and set a $78.00 target price on shares of AnaptysBio in a research note on Monday, August 31st. Zacks Research cut AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. TD Cowen decreased their price target on AnaptysBio from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $95.00 price objective on shares of AnaptysBio in a report on Tuesday. Twelve research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.15.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $53.92 on Wednesday. The stock has a fifty day moving average price of $55.67 and a 200 day moving average price of $59.22. AnaptysBio has a 1-year low of $13.81 and a 1-year high of $72.36. The company has a market cap of $1.60 billion, a PE ratio of 10.04 and a beta of 0.71.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Monday, September 21st. The biotechnology company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $5.57. AnaptysBio had a net margin of 82.37% and a return on equity of 112.00%. The company had revenue of $27.49 million for the quarter, compared to analysts’ expectations of $14.06 million. During the same period in the previous year, the company posted ($1.30) EPS. Analysts anticipate that AnaptysBio will post -2.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors have recently modified their holdings of ANAB. BlackRock Inc. purchased a new position in AnaptysBio in the 2nd quarter valued at approximately $124,473,000. Affinity Asset Advisors LLC grew its holdings in AnaptysBio by 111.4% in the first quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company’s stock valued at $52,132,000 after purchasing an additional 495,308 shares during the last quarter. 683 Capital Management LLC grew its holdings in AnaptysBio by 18.5% in the fourth quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock valued at $31,420,000 after purchasing an additional 101,093 shares during the last quarter. Palo Alto Investors LP purchased a new position in shares of AnaptysBio in the second quarter valued at $40,735,508. Finally, First Light Asset Management LLC raised its stake in shares of AnaptysBio by 2.9% during the 2nd quarter. First Light Asset Management LLC now owns 582,004 shares of the biotechnology company’s stock worth $39,285,000 after buying an additional 16,573 shares during the last quarter.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on discovering and developing antibody-based medicines for cancer and immune-mediated diseases. The company’s programs are designed to modulate immune-cell signaling and address conditions in which the immune system is either insufficiently active, as in cancer, or overly active, as in autoimmune and inflammatory disorders.

AnaptysBio’s pipeline has included rosnilimab, an investigational antibody targeting CD200R1, and other immune-cell modulators aimed at autoimmune and inflammatory diseases.