AnaptysBio (NASDAQ:ANAB) Receives Outperform Rating from Wedbush

Key Points

• Wedbush has reissued an outperform rating for AnaptysBio with a price target of $45.00, indicating a potential upside of 123.21% from its current price.
• Several analysts have different ratings for AnaptysBio; while UBS Group has a "neutral" rating at $20.00, Guggenheim projects a buy rating with a target of $90.00.
• AnaptysBio reported revenues of $22.26 million for the recent quarter, outperforming expectations, but the company also had a negative net margin of 107.66%.

AnaptysBio (NASDAQ:ANAB - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $45.00 price target on the biotechnology company's stock. Wedbush's target price suggests a potential upside of 123.21% from the company's current price.

A number of other research analysts have also commented on the company. 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. Guggenheim reaffirmed a "buy" rating and issued a $90.00 price target (up previously from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. HC Wainwright upgraded AnaptysBio from a "neutral" rating to a "buy" rating and upped their target price for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.13.

AnaptysBio Price Performance

Shares of ANAB opened at $20.16 on Tuesday. The company has a 50-day moving average of $23.00 and a two-hundred day moving average of $21.15. The stock has a market cap of $564.48 million, a price-to-earnings ratio of -4.50 and a beta of -0.19. AnaptysBio has a one year low of $12.21 and a one year high of $40.55.

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

Insiders Place Their Bets

In other AnaptysBio news, Director Hollings Renton sold 20,925 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total value of $493,202.25. Following the sale, the director directly owned 4,965 shares in the company, valued at approximately $117,025.05. This trade represents a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ANAB. Northern Trust Corp raised its holdings in shares of AnaptysBio by 10.0% in the fourth quarter. Northern Trust Corp now owns 219,986 shares of the biotechnology company's stock valued at $2,913,000 after purchasing an additional 20,073 shares during the last quarter. Deutsche Bank AG grew its holdings in AnaptysBio by 52.0% in the 4th quarter. Deutsche Bank AG now owns 17,867 shares of the biotechnology company's stock valued at $237,000 after buying an additional 6,113 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AnaptysBio by 21.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,012 shares of the biotechnology company's stock valued at $199,000 after buying an additional 2,701 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of AnaptysBio by 83.2% during the 4th quarter. Rafferty Asset Management LLC now owns 70,883 shares of the biotechnology company's stock worth $938,000 after buying an additional 32,185 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of AnaptysBio by 66.4% in the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock valued at $4,661,000 after purchasing an additional 140,457 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.

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