AnaptysBio, Inc. (NASDAQ:ANAB) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts have given AnaptysBio, Inc. a consensus rating of "Moderate Buy", with an average target price of $47.13.
• The company reported a quarter with earnings per share of ($1.28), beating estimates by $0.02, while revenue significantly outperformed expectations at $27.77 million.
• Insider transactions show that Director Hollings Renton sold 20,925 shares at an average price of $23.57, significantly reducing their ownership by 80.82%.

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $47.13.

ANAB has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday. Wedbush reissued an "outperform" rating and set a $40.00 price objective on shares of AnaptysBio in a report on Thursday, May 29th. Guggenheim reissued a "buy" rating and set a $90.00 price objective (up from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. Finally, HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $22.00 to $38.00 in a report on Wednesday, June 4th.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB traded down $0.03 during trading on Friday, reaching $26.91. 73,481 shares of the company were exchanged, compared to its average volume of 794,767. The firm has a market capitalization of $790.73 million, a PE ratio of -5.55 and a beta of -0.27. The business's fifty day simple moving average is $23.62 and its 200-day simple moving average is $19.92. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02. The business had revenue of $27.77 million for the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative net margin of 125.70% and a negative return on equity of 282.47%. On average, sell-side analysts anticipate that AnaptysBio will post -6.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other AnaptysBio news, Director Hollings Renton sold 20,925 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total value of $493,202.25. Following the completion of the sale, the director directly owned 4,965 shares in the company, valued at $117,025.05. This trade represents a 80.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 33.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

A number of large investors have recently made changes to their positions in ANAB. First Light Asset Management LLC grew its holdings in shares of AnaptysBio by 433.3% during the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company's stock valued at $86,139,000 after buying an additional 3,764,720 shares during the last quarter. Fairmount Funds Management LLC purchased a new stake in shares of AnaptysBio during the fourth quarter valued at $24,050,000. Boxer Capital Management LLC purchased a new stake in shares of AnaptysBio during the fourth quarter valued at $17,212,000. Sanofi purchased a new stake in shares of AnaptysBio during the fourth quarter valued at $10,882,000. Finally, Soleus Capital Management L.P. purchased a new stake in shares of AnaptysBio during the fourth quarter valued at $5,481,000.

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.