AnaptysBio (NASDAQ:ANAB) Upgraded to Strong-Buy at Zacks Research

AnaptysBio (NASDAQ:ANAB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on ANAB. Piper Sandler decreased their target price on AnaptysBio from $95.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday. Weiss Ratings reiterated a "sell (d-)" rating on shares of AnaptysBio in a report on Wednesday, January 21st. HC Wainwright reissued a "buy" rating and issued a $66.00 price objective on shares of AnaptysBio in a research report on Monday, March 30th. Leerink Partners raised their price objective on shares of AnaptysBio from $66.00 to $85.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Finally, Wedbush boosted their target price on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $76.18.

AnaptysBio Price Performance

AnaptysBio stock opened at $69.49 on Monday. AnaptysBio has a fifty-two week low of $11.40 and a fifty-two week high of $72.36. The firm has a fifty day moving average price of $61.18 and a two-hundred day moving average price of $50.05. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -133.64 and a beta of 0.79.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.69. The company had revenue of $108.25 million for the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. As a group, sell-side analysts expect that AnaptysBio will post -3.15 earnings per share for the current year.

AnaptysBio declared that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 5,352,316.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at AnaptysBio

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

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently bought and sold shares of ANAB. AQR Capital Management LLC increased its holdings in AnaptysBio by 153.3% in the 1st quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company's stock valued at $558,000 after buying an additional 18,165 shares during the period. Creative Planning boosted its position in shares of AnaptysBio by 26.9% during the 2nd quarter. Creative Planning now owns 16,854 shares of the biotechnology company's stock valued at $374,000 after acquiring an additional 3,571 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AnaptysBio by 1,631.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 247,625 shares of the biotechnology company's stock valued at $5,497,000 after acquiring an additional 233,325 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in AnaptysBio in the second quarter valued at about $528,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in AnaptysBio in the second quarter valued at about $3,348,000.

AnaptysBio Company Profile

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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