AnaptysBio, Inc. (NASDAQ:ANAB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• AnaptysBio currently has a consensus analyst rating of “Moderate Buy”, based on 13 covering firms with 10 buy ratings, 2 holds, and 1 sell. The average 12-month price target is about $81.82.
• Recent analyst updates have been mixed: UBS raised its price target to $76 with a buy rating, while other firms issued or adjusted ratings to hold or sell. This shows continued debate over the stock’s near-term outlook.
• The company’s latest earnings report showed a loss of $1.84 per share, wider than expected, though revenue of $25.56 million beat estimates. AnaptysBio also authorized a stock repurchase plan, which management may view as a sign the shares are undervalued.

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the thirteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $81.8182.

ANAB has been the subject of several recent research reports. UBS Group increased their price target on AnaptysBio from $60.00 to $76.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Leerink Partners set a $90.00 price objective on AnaptysBio in a research note on Friday, May 15th. Truist Financial raised AnaptysBio to a "hold" rating in a research note on Wednesday, March 25th. Wall Street Zen cut AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings downgraded AnaptysBio from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 13th.

Institutional Investors Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently bought and sold shares of ANAB. Affinity Asset Advisors LLC boosted its holdings in AnaptysBio by 111.4% in the 1st 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. Bank of America Corp DE increased its holdings in shares of AnaptysBio by 283.2% during the 1st quarter. Bank of America Corp DE now owns 501,086 shares of the biotechnology company's stock worth $27,790,000 after buying an additional 370,319 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 buying an additional 233,325 shares during the last quarter. Voloridge Investment Management LLC raised its position in shares of AnaptysBio by 2,358.3% during the 4th quarter. Voloridge Investment Management LLC now owns 229,137 shares of the biotechnology company's stock valued at $11,109,000 after buying an additional 219,816 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of AnaptysBio by 145.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 370,458 shares of the biotechnology company's stock valued at $11,343,000 after buying an additional 219,648 shares during the period.

AnaptysBio Trading Up 1.9%

Shares of NASDAQ ANAB opened at $66.59 on Friday. AnaptysBio has a 12-month low of $11.40 and a 12-month high of $72.36. The stock has a market cap of $1.97 billion, a PE ratio of -61.66 and a beta of 0.68. The company has a 50-day moving average of $60.19 and a 200 day moving average of $56.89.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($0.64) by ($1.20). The business had revenue of $25.56 million for the quarter, compared to the consensus estimate of $18.86 million. On average, sell-side analysts forecast that AnaptysBio will post -1.35 EPS for the current fiscal year.

AnaptysBio declared that its Board of Directors has authorized a stock repurchase plan on Friday, March 27th that permits the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization permits the biotechnology company to buy up to 5,352,316.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

About AnaptysBio

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.

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