UBS Group Reiterates Neutral Rating for AnaptysBio (NASDAQ:ANAB)

Key Points

• UBS Group has raised its price target for AnaptysBio from $18.00 to $20.00, indicating a potential downside of 0.13% from the stock's previous close while maintaining a "neutral" rating.
• Analysts from JPMorgan Chase and HC Wainwright have significantly increased their price targets for AnaptysBio to $80.00 and $38.00, respectively, reflecting positive sentiment among multiple brokerages.
• AnaptysBio's recent quarterly earnings showed a revenue of $22.26 million, exceeding expectations, and the company is projected to report a loss of -6.08 EPS for the current fiscal year.

AnaptysBio (NASDAQ:ANAB - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at UBS Group in a note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $20.00 price objective on the biotechnology company's stock, up from their previous price objective of $18.00. UBS Group's price objective points to a potential downside of 0.70% from the company's previous close.

ANAB has been the topic of a number of other reports. Guggenheim restated a "buy" rating and issued a $90.00 price target (up from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. HC Wainwright upgraded AnaptysBio from a "neutral" rating to a "buy" rating and raised their price target for the stock from $22.00 to $38.00 in a research note on Wednesday, June 4th. Wedbush raised their price target on AnaptysBio from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AnaptysBio has a consensus rating of "Moderate Buy" and a consensus price target of $46.13.

AnaptysBio Trading Up 0.9%

ANAB traded up $0.17 during trading on Tuesday, hitting $20.14. 547,616 shares of the company's stock traded hands, compared to its average volume of 511,663. The company's 50 day simple moving average is $23.98 and its two-hundred day simple moving average is $20.55. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $40.70. The stock has a market capitalization of $563.86 million, a price-to-earnings ratio of -4.50 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) EPS for the quarter, beating 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 business had revenue of $22.26 million for the quarter, compared to the consensus estimate of $11.55 million. On average, equities analysts expect that AnaptysBio will post -6.08 EPS for the current year.

Insider Buying and Selling

In other AnaptysBio news, Director Hollings Renton sold 20,925 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total transaction of $493,202.25. Following the sale, the director directly owned 4,965 shares of the company's stock, valued at $117,025.05. This trade represents a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 33.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of AnaptysBio by 126.5% in the first quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 979 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of AnaptysBio by 9,778.9% in 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 last quarter. Tower Research Capital LLC TRC increased its holdings in shares of AnaptysBio by 131.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 1,531 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 worth $48,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in shares of AnaptysBio by 24.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company's stock worth $63,000 after purchasing an additional 936 shares during 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.