AnaptysBio (NASDAQ:ANAB) Price Target Raised to $59.00 at HC Wainwright

Key Points

• HC Wainwright has raised AnaptysBio's price target from $38.00 to $59.00, indicating a potential upside of 153.55% from the current stock price.
• Several analysts have varying ratings for AnaptysBio, with a consensus average rating of "Moderate Buy" and a target price averaging $48.75.
• AnaptysBio recently reported earnings of ($1.34) EPS, exceeding analysts' estimates, with revenue of $22.26 million versus expected $11.55 million.

AnaptysBio (NASDAQ:ANAB - Get Free Report) had its price target lifted by equities research analysts at HC Wainwright from $38.00 to $59.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. HC Wainwright's target price indicates a potential upside of 153.55% from the company's current price.

Several other equities analysts have also recently commented on the stock. Wedbush reiterated an "outperform" rating and set a $45.00 target price on shares of AnaptysBio in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, UBS Group reissued a "neutral" rating and set a $20.00 price objective (up previously from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.75.

AnaptysBio Stock Performance

Shares of ANAB opened at $23.27 on Tuesday. The company's 50 day moving average price is $22.07 and its 200 day moving average price is $21.50. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $36.54. The company has a market capitalization of $651.56 million, a PE ratio of -5.19 and a beta of -0.19.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.50) by $0.16. The firm had revenue of $22.26 million during the quarter, compared to analysts' expectations of $11.55 million. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. On average, equities analysts forecast that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Hollings Renton sold 20,925 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total value of $493,202.25. Following the completion of the transaction, the director owned 4,965 shares of the company's stock, valued at $117,025.05. The trade was a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 33.50% of the stock is currently owned by company insiders.

Institutional Trading of AnaptysBio

Institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC lifted its stake in AnaptysBio by 433.3% in the first quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company's stock valued at $86,139,000 after buying an additional 3,764,720 shares during the period. Palo Alto Investors LP grew its stake in shares of AnaptysBio by 20.9% during the 1st quarter. Palo Alto Investors LP now owns 1,020,713 shares of the biotechnology company's stock worth $18,975,000 after acquiring an additional 176,742 shares during the period. Woodline Partners LP boosted its stake in AnaptysBio by 63.1% in the 1st quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company's stock worth $14,705,000 after purchasing an additional 305,950 shares during the period. 683 Capital Management LLC raised its holdings in shares of AnaptysBio by 155.6% in the 2nd quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company's stock valued at $11,100,000 after acquiring an additional 304,373 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of AnaptysBio by 21.5% during the 1st quarter. Victory Capital Management Inc. now owns 406,430 shares of the biotechnology company's stock valued at $7,556,000 after buying an additional 71,980 shares in 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.

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