Leerink Partners Issues Pessimistic Forecast for AnaptysBio (NASDAQ:ANAB) Stock Price

Key Points

• Leerink Partners cut AnaptysBio’s price target from $90 to $81 while maintaining an “outperform” rating, implying roughly 50% upside from the prior close.
• Analyst sentiment remains broadly positive, with 12 Buy ratings, three Holds and one Sell; the consensus rating is “Moderate Buy” with an average price target of $79.15.
• AnaptysBio recently beat quarterly expectations, reporting $5.11 in EPS versus a projected $0.46 loss and revenue of $27.49 million versus a $14.06 million consensus estimate.

AnaptysBio (NASDAQ:ANAB - Get Free Report) had its price target dropped by Leerink Partners from $90.00 to $81.00 in a report released on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the biotechnology company's stock. Leerink Partners' price target suggests a potential upside of 50.22% from the stock's previous close.

A number of other equities research analysts also recently issued reports on ANAB. Scotiabank downgraded shares of AnaptysBio to a "hold" rating and set a $70.00 price target on the stock. in a research note on Tuesday, August 25th. Wolfe Research restated an "outperform" rating and issued a $78.00 price objective on shares of AnaptysBio in a report on Monday, August 31st. Zacks Research lowered shares of AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. HC Wainwright reissued a "buy" rating and issued a $95.00 price target on shares of AnaptysBio in a research report on Tuesday. Finally, TD Cowen reduced their price objective on AnaptysBio from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, August 25th. Twelve analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $79.15.

AnaptysBio Stock Performance

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

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings data on Monday, September 21st. The biotechnology company reported $5.11 EPS for the quarter, beating the consensus estimate of ($0.46) by $5.57. The firm had revenue of $27.49 million during the quarter, compared to the consensus estimate of $14.06 million. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%.During the same period in the prior year, the company earned ($1.30) EPS. On average, equities analysts predict that AnaptysBio will post -2.06 EPS for the current fiscal year.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC lifted its position 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. Squarepoint Ops LLC raised its stake in AnaptysBio by 21.2% during the 2nd quarter. Squarepoint Ops LLC now owns 324,446 shares of the biotechnology company's stock worth $21,900,000 after acquiring an additional 56,743 shares in the last quarter. Arizona State Retirement System lifted its position in AnaptysBio by 13.5% in the second quarter. Arizona State Retirement System now owns 4,363 shares of the biotechnology company's stock valued at $295,000 after acquiring an additional 518 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in AnaptysBio in the second quarter valued at $1,164,000. Finally, Irenic Capital Management LP purchased a new position in shares of AnaptysBio during the second quarter worth about $4,755,000.

AnaptysBio Company Profile

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.

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