Analysts Set AnaptysBio, Inc. (NASDAQ:ANAB) Price Target at $42.38

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $42.38.

Several analysts recently issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $40.00 price target on shares of AnaptysBio in a report on Thursday, May 29th. Wells Fargo & Company lifted their price target on AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Johnson Rice restated a "buy" rating on shares of AnaptysBio in a report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price target on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, HC Wainwright raised shares of AnaptysBio from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $22.00 to $38.00 in a report on Wednesday.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in AnaptysBio by 41.0% during the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company's stock worth $4,428,000 after purchasing an additional 97,200 shares in the last quarter. Vanguard Group Inc. raised its holdings in AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after buying an additional 143,584 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in AnaptysBio during the 4th quarter valued at about $311,000. AlphaQuest LLC lifted its stake in AnaptysBio by 1,891.5% in the fourth quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 4,237 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of AnaptysBio by 66.4% during the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock valued at $4,661,000 after purchasing an additional 140,457 shares in the last quarter.

AnaptysBio Trading Up 12.1%

Shares of NASDAQ ANAB traded up $2.56 during midday trading on Thursday, reaching $23.70. 840,957 shares of the company were exchanged, compared to its average volume of 627,793. The stock has a fifty day simple moving average of $20.00 and a 200 day simple moving average of $18.33. The stock has a market cap of $696.31 million, a P/E ratio of -3.90 and a beta of -0.20. AnaptysBio has a 1 year low of $12.21 and a 1 year high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $27.77 million during the quarter, compared to analysts' expectations of $15.27 million. As a group, analysts forecast that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has authorized a stock buyback plan on Monday, March 24th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to buy up to 13.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.