AnaptysBio (NASDAQ:ANAB) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

AnaptysBio (NASDAQ:ANAB - Get Free Report) issued its quarterly earnings results on Monday. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02, Zacks reports. The business had revenue of $27.77 million during 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%.

AnaptysBio Price Performance

NASDAQ ANAB traded down $0.03 during trading on Friday, hitting $19.55. 84,580 shares of the company's stock traded hands, compared to its average volume of 594,160. The firm has a market cap of $578.17 million, a P/E ratio of -3.22 and a beta of -0.20. The stock has a fifty day moving average of $18.55 and a two-hundred day moving average of $18.81. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31.

AnaptysBio declared that its board has approved a stock buyback plan on Monday, March 24th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the biotechnology company to reacquire up to 13.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on AnaptysBio from $40.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Guggenheim lifted their price target on shares of AnaptysBio from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday. HC Wainwright reiterated a "neutral" rating and issued a $22.00 price objective on shares of AnaptysBio in a research note on Tuesday, March 4th. Wedbush reaffirmed an "outperform" rating and issued a $40.00 target price on shares of AnaptysBio in a report on Thursday, May 1st. Finally, Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.88.

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.