AnaptysBio (NASDAQ:ANAB) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded AnaptysBio from a "buy" to a "strong-buy," and multiple analysts have raised price targets, leaving the stock with an average target of $75.50.
• AnaptysBio beat quarterly expectations (EPS $1.58 vs. $0.89; revenue $108.25M vs. $87.09M), the stock jumped about 14.8%, and the company announced a share repurchase plan.
• There has been notable insider selling33.5% of the company.

AnaptysBio (NASDAQ:ANAB - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently weighed in on ANAB. Wedbush upped their price target on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. HC Wainwright reissued a "buy" rating and issued a $66.00 price objective on shares of AnaptysBio in a research note on Monday, March 30th. Stifel Nicolaus increased their price objective on shares of AnaptysBio from $56.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Piper Sandler increased their price objective on shares of AnaptysBio from $67.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Finally, Barclays lowered their price objective on shares of AnaptysBio from $79.00 to $63.00 and set an "overweight" rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, AnaptysBio currently has an average rating of "Moderate Buy" and an average target price of $75.50.

AnaptysBio Stock Up 14.8%

NASDAQ:ANAB opened at $58.88 on Friday. AnaptysBio has a fifty-two week low of $17.11 and a fifty-two week high of $73.30. The stock has a market cap of $1.69 billion, a PE ratio of -113.23 and a beta of 0.40. The firm's fifty day simple moving average is $60.00 and its 200-day simple moving average is $48.61.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.69. AnaptysBio had a negative net margin of 5.64% and a negative return on equity of 1,101.24%. The business had revenue of $108.25 million for the quarter, compared to analysts' expectations of $87.09 million. Equities analysts anticipate that AnaptysBio will post -2.96 earnings per share for the current year.

AnaptysBio declared that its board has initiated a share buyback plan on Friday, March 27th that permits the company to repurchase $100,000.00 billion in outstanding shares. This repurchase authorization permits the biotechnology company to purchase up to 5,352,316.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, CEO Daniel Faga sold 17,679 shares of the company's stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $61.61, for a total value of $1,089,203.19. Following the transaction, the chief executive officer directly owned 495,965 shares in the company, valued at approximately $30,556,403.65. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric J. Loumeau sold 10,000 shares of the company's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $54.00, for a total transaction of $540,000.00. Following the completion of the transaction, the insider owned 12,835 shares in the company, valued at approximately $693,090. This trade represents a 43.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 48,324 shares of company stock worth $2,787,594. Corporate insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ANAB. Smartleaf Asset Management LLC lifted its holdings in shares of AnaptysBio by 5,864.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 821 shares during the period. Larson Financial Group LLC lifted its holdings in shares of AnaptysBio by 54.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 473 shares during the period. Bessemer Group Inc. lifted its holdings in shares of AnaptysBio by 950.0% during the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company's stock worth $44,000 after acquiring an additional 1,292 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of AnaptysBio by 175.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company's stock worth $48,000 after acquiring an additional 1,377 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of AnaptysBio by 11,630.0% during the 2nd 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 during the period.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company's technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company's pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.