AnaptysBio (NASDAQ:ANAB) Given New $54.00 Price Target at Guggenheim

AnaptysBio (NASDAQ:ANAB - Get Free Report) had its price target upped by stock analysts at Guggenheim from $52.00 to $54.00 in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Guggenheim's price objective points to a potential upside of 175.65% from the stock's previous close.

Several other equities analysts have also commented on ANAB. HC Wainwright reiterated a "neutral" rating and issued a $22.00 price target on shares of AnaptysBio in a research note on Tuesday, March 4th. Wedbush reiterated an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a research report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Wolfe Research began coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.88.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB traded up $0.01 during trading on Tuesday, hitting $19.59. 421,018 shares of the company were exchanged, compared to its average volume of 597,975. The company has a fifty day moving average price of $18.63 and a 200-day moving average price of $18.59. The firm has a market capitalization of $579.35 million, a PE ratio of -3.22 and a beta of -0.20. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $27.77 million during the quarter, compared to analysts' expectations of $15.27 million. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. Research analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its board has approved a share repurchase program on Monday, March 24th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Institutional Trading of AnaptysBio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANAB. Vanguard Group Inc. raised its stake in AnaptysBio by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock worth $24,411,000 after acquiring an additional 143,584 shares in the last quarter. Fairmount Funds Management LLC bought a new stake in AnaptysBio during the 4th quarter worth approximately $24,050,000. Boxer Capital Management LLC bought a new position in AnaptysBio in the 4th quarter valued at $17,212,000. Sanofi bought a new position in AnaptysBio in the 4th quarter valued at $10,882,000. Finally, Geode Capital Management LLC boosted its stake in AnaptysBio by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 486,597 shares of the biotechnology company's stock worth $6,444,000 after purchasing an additional 21,196 shares in the last quarter.

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.