AnaptysBio (NASDAQ:ANAB) Stock Bumped Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded AnaptysBio from “hold” to “buy.” The stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $79.15.
• AnaptysBio reported a strong quarterly performance, posting $5.11 in EPS versus estimates for a $0.46 loss and revenue of $27.49 million, ahead of the $14.06 million consensus.
• Shares opened at $51.00 and were down 1.4%, trading below their 50-day and 200-day moving averages. AnaptysBio is a clinical-stage biotechnology company developing antibody-based treatments for cancer and immune-mediated diseases.

AnaptysBio (NASDAQ:ANAB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also commented on the company. HC Wainwright reiterated a "buy" rating and issued a $95.00 price objective on shares of AnaptysBio in a research report on Tuesday. Leerink Partners dropped their target price on AnaptysBio from $90.00 to $81.00 and set an "outperform" rating for the company in a research report on Wednesday. Wolfe Research reiterated an "outperform" rating and issued a $78.00 price target on shares of AnaptysBio in a report on Monday, August 31st. Weiss Ratings reissued a "sell (e+)" rating on shares of AnaptysBio in a report on Friday, August 7th. Finally, Zacks Research downgraded shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Twelve investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.15.

AnaptysBio Trading Down 1.4%

ANAB opened at $51.00 on Friday. AnaptysBio has a 1-year low of $13.86 and a 1-year high of $72.36. The stock has a market capitalization of $1.52 billion, a PE ratio of 9.50 and a beta of 0.71. The firm has a 50-day moving average price of $55.38 and a two-hundred day moving average price of $59.09.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its earnings results on Monday, September 21st. The biotechnology company reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $14.06 million. During the same period in the prior year, the business earned ($1.30) earnings per share. On average, research analysts predict that AnaptysBio will post -1.48 EPS for the current year.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tema ETFs LLC boosted its stake in shares of AnaptysBio by 0.6% in the 2nd quarter. Tema ETFs LLC now owns 31,270 shares of the biotechnology company's stock valued at $2,111,000 after purchasing an additional 201 shares in the last quarter. Arizona State Retirement System lifted its holdings in AnaptysBio by 13.5% during the 2nd quarter. Arizona State Retirement System now owns 4,363 shares of the biotechnology company's stock worth $295,000 after buying an additional 518 shares during the period. Persistent Asset Partners Ltd acquired a new position in AnaptysBio during the 2nd quarter worth about $39,000. Caitong International Asset Management Co. Ltd grew its position in shares of AnaptysBio by 940.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company's stock valued at $74,000 after buying an additional 1,383 shares during the last quarter. Finally, Group One Trading LLC acquired a new position in AnaptysBio in the second quarter valued at $140,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.