Barclays Initiates Coverage on AnaptysBio (NASDAQ:ANAB)

Key Points

• Barclays has initiated coverage on AnaptysBio, setting an "overweight" rating with a price target of $78.00, indicating a potential upside of 140.30% from its previous close.
• Other analysts have varied ratings, with price targets ranging from $20.00 to $80.00, and an average consensus price target of $52.00.
• AnaptysBio recently reported earnings with an EPS of ($1.34), beating estimates, and revenue of $22.26 million, exceeding analyst expectations.

Stock analysts at Barclays assumed coverage on shares of AnaptysBio (NASDAQ:ANAB - Get Free Report) in a research note issued on Monday, MarketBeat.com reports. The firm set an "overweight" rating and a $78.00 price target on the biotechnology company's stock. Barclays's target price indicates a potential upside of 140.30% from the company's previous close.

Other research analysts also recently issued reports about the stock. HC Wainwright increased their price target on shares of AnaptysBio from $38.00 to $59.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. UBS Group reissued a "neutral" rating and issued a $20.00 price objective (up from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wedbush reaffirmed an "outperform" rating and set a $45.00 price target on shares of AnaptysBio in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AnaptysBio in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

AnaptysBio Trading Up 3.5%

Shares of ANAB opened at $32.46 on Monday. The firm has a fifty day simple moving average of $23.15 and a two-hundred day simple moving average of $22.45. The firm has a market cap of $908.88 million, a PE ratio of -7.25 and a beta of -0.18. AnaptysBio has a 1-year low of $12.21 and a 1-year high of $36.54.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($1.34) EPS for the quarter, topping the consensus estimate of ($1.50) by $0.16. AnaptysBio had a negative return on equity of 366.98% and a negative net margin of 107.66%.The company had revenue of $22.26 million during the quarter, compared to analyst estimates of $11.55 million. As a group, research analysts forecast that AnaptysBio will post -6.08 EPS for the current fiscal year.

Hedge Funds Weigh In On AnaptysBio

Several institutional investors have recently bought and sold shares of ANAB. US Bancorp DE boosted its position in shares of AnaptysBio by 126.5% in the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after buying an additional 979 shares in the last quarter. Farther Finance Advisors LLC boosted its position in AnaptysBio by 9,778.9% during the first quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 1,858 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of AnaptysBio by 175.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 1,377 shares in the last quarter. Osaic Holdings Inc. raised its stake in AnaptysBio by 11,630.0% during the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company's stock worth $52,000 after acquiring an additional 2,326 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in AnaptysBio in the first quarter valued at about $113,000.

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.