AnaptysBio (NASDAQ:ANAB) Upgraded to "Buy" at HC Wainwright

HC Wainwright upgraded shares of AnaptysBio (NASDAQ:ANAB - Free Report) from a neutral rating to a buy rating in a report released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $38.00 price target on the biotechnology company's stock, up from their previous price target of $22.00.

Several other research analysts also recently weighed in on ANAB. JPMorgan Chase & Co. increased their price target on AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Johnson Rice restated a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective on shares of AnaptysBio in a research note on Thursday, May 29th. Finally, Wolfe Research started coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $42.38.

AnaptysBio Stock Down 0.6%

NASDAQ:ANAB traded down $0.13 during trading hours on Wednesday, hitting $21.14. 1,178,816 shares of the company traded hands, compared to its average volume of 625,595. AnaptysBio has a one year low of $12.21 and a one year high of $41.31. The firm's 50-day simple moving average is $19.95 and its 200-day simple moving average is $18.31. The company has a market cap of $621.09 million, a PE ratio of -3.48 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.30) by $0.02. The business had revenue of $27.77 million during the quarter, compared to the consensus estimate of $15.27 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. As a group, equities research analysts expect that AnaptysBio will post -6.08 EPS for the current year.

AnaptysBio announced that its Board of Directors has authorized a share buyback program on Monday, March 24th that allows the company to repurchase $75.00 million in shares. This repurchase authorization allows the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of AnaptysBio

A number of institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in 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 acquiring an additional 979 shares during the period. Farther Finance Advisors LLC increased its position in AnaptysBio by 9,778.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,877 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 1,858 shares during the period. Tower Research Capital LLC TRC raised its holdings in AnaptysBio by 131.3% in the 4th 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of AnaptysBio in the 4th quarter worth about $40,000. Finally, AlphaQuest LLC boosted its stake in shares of AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 4,237 shares in 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.