AnaptysBio's (ANAB) "Outperform" Rating Reaffirmed at Wedbush

AnaptysBio (NASDAQ:ANAB - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They presently have a $40.00 price target on the biotechnology company's stock. Wedbush's price objective points to a potential upside of 78.17% from the stock's current price.

Several other equities research analysts have also commented on the stock. Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a report on Wednesday, March 26th. Wolfe Research started coverage on AnaptysBio in a research report on Tuesday, February 4th. They set an "outperform" rating and a $25.00 target price on the stock. Wells Fargo & Company raised their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research note on Wednesday. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.38.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB traded down $0.11 during trading on Thursday, reaching $22.45. 683,007 shares of the company were exchanged, compared to its average volume of 612,712. The firm has a market capitalization of $659.58 million, a PE ratio of -3.69 and a beta of -0.20. The business's fifty day simple moving average is $19.73 and its 200-day simple moving average is $18.26. 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 quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.30) by $0.02. The company had revenue of $27.77 million for the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, sell-side analysts anticipate that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio declared that its board has approved a stock repurchase 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 typically a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On AnaptysBio

Several large investors have recently bought and sold shares of ANAB. Wellington Management Group LLP lifted its position in AnaptysBio by 0.8% in the fourth quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company's stock valued at $880,000 after acquiring an additional 528 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of AnaptysBio by 11.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company's stock valued at $85,000 after buying an additional 644 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of AnaptysBio by 2.7% in the first quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company's stock valued at $574,000 after buying an additional 826 shares during the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock valued at $63,000 after buying an additional 936 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock valued at $33,000 after buying an additional 979 shares during the last quarter.

AnaptysBio Company Profile

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.