AnaptysBio (NASDAQ:ANAB) Trading 5.3% Higher - Should You Buy?

Key Points

• AnaptysBio shares rose 5.3% on Friday, trading as high as $56.54 before last changing hands at $57.00. Volume was sharply below average, with just 47,244 shares traded versus a 753,749-share daily average.
• Analyst sentiment remains broadly positive, with 10 Buy ratings, 2 Holds, and 1 Sell. The consensus price target is $81.82, and recent targets ranged from $75 to $95.
• The company’s latest quarterly results showed a wider-than-expected loss of $1.84 per share, though revenue topped estimates at $25.56 million. AnaptysBio also has an authorized stock buyback program, which management may view as a sign the shares are undervalued.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) shares rose 5.3% during trading on Friday . The company traded as high as $56.54 and last traded at $57.00. 47,244 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 753,749 shares. The stock had previously closed at $54.15.

Wall Street Analysts Forecast Growth

ANAB has been the topic of several research reports. Weiss Ratings cut AnaptysBio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 13th. Piper Sandler cut their target price on shares of AnaptysBio from $95.00 to $93.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. UBS Group lifted their target price on shares of AnaptysBio from $60.00 to $76.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. HC Wainwright assumed coverage on shares of AnaptysBio in a report on Wednesday, June 10th. They set a "buy" rating and a $95.00 target price on the stock. Finally, Barclays upped their price target on shares of AnaptysBio from $63.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AnaptysBio currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.82.

AnaptysBio Stock Up 5.5%

The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -52.93 and a beta of 0.68. The company has a 50 day simple moving average of $59.72 and a 200-day simple moving average of $57.30.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($1.20). The firm had revenue of $25.56 million for the quarter, compared to analysts' expectations of $18.86 million. As a group, sell-side analysts anticipate that AnaptysBio, Inc. will post -1.35 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ANAB. Smartleaf Asset Management LLC raised its holdings in shares of AnaptysBio by 5,864.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 821 shares during the period. Larson Financial Group LLC grew its holdings in AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 473 shares during the period. Tower Research Capital LLC TRC grew its holdings in AnaptysBio by 175.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company's stock valued at $48,000 after purchasing an additional 1,377 shares during the period. Osaic Holdings Inc. increased its position in AnaptysBio by 11,630.0% in the second quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company's stock worth $52,000 after buying an additional 2,326 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of AnaptysBio by 24.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company's stock valued at $65,000 after buying an additional 263 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.

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