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

AnaptysBio (NASDAQ:ANAB - Get Free Report) posted its quarterly earnings data on Monday. The biotechnology company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.02, Zacks reports. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $27.77 million during the quarter, compared to analyst estimates of $15.27 million.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB traded up $0.01 during midday trading on Friday, hitting $19.59. The company's stock had a trading volume of 421,018 shares, compared to its average volume of 597,975. The company has a market cap of $579.35 million, a P/E 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. The business's 50 day simple moving average is $18.63 and its 200 day simple moving average is $18.59.

AnaptysBio declared that its Board of Directors has authorized a share repurchase plan on Monday, March 24th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to reacquire up to 13.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ANAB has been the topic of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and set a $40.00 price target on shares of AnaptysBio in a research report on Thursday, May 1st. Wolfe Research initiated coverage on shares of AnaptysBio in a research note on Tuesday, February 4th. They set an "outperform" rating and a $25.00 price target on the stock. Wells Fargo & Company raised their price objective on AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Guggenheim boosted their target price on shares of AnaptysBio from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, HC Wainwright restated a "neutral" rating and issued a $22.00 price objective on shares of AnaptysBio in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AnaptysBio has an average rating of "Moderate Buy" and a consensus target price 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.