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

Key Points

• AnaptysBio has a consensus analyst rating of “Moderate Buy” from 13 analysts, with an average 12-month price target of about $81.82. The breakdown includes 10 buy ratings, 2 holds, and 1 sell.
• The company recently reported mixed quarterly results: revenue of $25.56 million beat expectations, but earnings per share of -$1.84 missed estimates. Analysts now expect the biotech firm to post -$1.35 EPS for the full fiscal year.
• Insiders sold shares in recent transactions, including Director John P. Schmid and CEO Daniel Faga, while the company also has a stock buyback authorization in place. Shares are trading around $56.07, within a 52-week range of $11.40 to $72.36.

Shares of AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $81.8182.

Several analysts have issued reports on the company. Piper Sandler cut their price objective on AnaptysBio from $95.00 to $93.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Weiss Ratings downgraded AnaptysBio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Wall Street Zen downgraded AnaptysBio from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 16th. Stifel Nicolaus lifted their target price on AnaptysBio from $56.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, Barclays lifted their target price on AnaptysBio from $63.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th.

Insider Buying and Selling

In other AnaptysBio news, Director John P. Schmid sold 20,645 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $56.11, for a total value of $1,158,390.95. Following the completion of the sale, the director owned 31,622 shares in the company, valued at $1,774,310.42. This represents a 39.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Faga sold 17,679 shares of the stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $61.61, for a total transaction of $1,089,203.19. Following the completion of the sale, the chief executive officer owned 495,965 shares of the company's stock, valued at approximately $30,556,403.65. The trade was a 3.44% decrease in their position. The SEC filing for this sale provides additional information. 33.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its position in AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock worth $40,000 after buying an additional 821 shares in the last quarter. Larson Financial Group LLC lifted its position in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company's stock worth $41,000 after buying an additional 473 shares in the last quarter. Bessemer Group Inc. lifted its position in AnaptysBio by 950.0% in the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company's stock worth $44,000 after buying an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company's stock valued at $48,000 after buying an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. increased its holdings in AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company's stock worth $52,000 after buying an additional 2,326 shares during the last quarter.

AnaptysBio Price Performance

Shares of NASDAQ ANAB opened at $56.07 on Monday. AnaptysBio has a fifty-two week low of $11.40 and a fifty-two week high of $72.36. The firm's 50-day simple moving average is $60.34 and its 200 day simple moving average is $54.50. The stock has a market cap of $1.63 billion, a P/E ratio of -51.92 and a beta of 0.72.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share 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. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 11.53%. On average, sell-side analysts anticipate that AnaptysBio will post -1.35 earnings per share for the current fiscal year.

AnaptysBio declared that its board has authorized a stock buyback plan on Friday, March 27th that allows the company to buyback $100,000.00 billion in outstanding shares. This buyback authorization allows the biotechnology company to reacquire up to 5,352,316.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors 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.

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.