AnaptysBio, Inc. (NASDAQ:ANAB) Stock Has Consensus Target Price of $77.79 According to Analysts

Key Points

• AnaptysBio has a “Moderate Buy” consensus rating from 17 analysts: 13 buys, three holds, and one sell. The average 12-month price target is $77.79, though several analysts recently lowered their targets.
• The stock opened at $46.61, below its 50-day and 200-day moving averages, with a one-year range of $20.18 to $72.36. Its latest quarterly results significantly exceeded expectations, with EPS of $5.11 versus a consensus loss estimate of $0.46 and revenue of $27.49 million.
• Institutional interest remains substantial, including new positions from BlackRock and Palo Alto Investors, while insider ownership stands at 31.5%. Director Hollings Renton sold 5,000 shares under a pre-arranged trading plan.

AnaptysBio, Inc. (NASDAQ:ANAB - Get Free Report) has received a consensus rating of "Moderate Buy" from the seventeen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $77.79.

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on AnaptysBio from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 30th. Wolfe Research reaffirmed an "outperform" rating and issued a $78.00 target price on shares of AnaptysBio in a research report on Monday, August 31st. TD Cowen lowered their price target on shares of AnaptysBio from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Tuesday, August 25th. Scotiabank cut shares of AnaptysBio to a "hold" rating and set a $70.00 price target on the stock. in a research report on Tuesday, August 25th. Finally, Leerink Partners reduced their price objective on shares of AnaptysBio from $90.00 to $81.00 and set an "outperform" rating for the company in a research note on Wednesday, September 23rd.

AnaptysBio Price Performance

ANAB opened at $46.61 on Friday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 8.68 and a beta of 0.76. The business's 50-day moving average price is $53.58 and its two-hundred day moving average price is $57.44. AnaptysBio has a 1 year low of $20.18 and a 1 year high of $72.36.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last posted its quarterly earnings data on Monday, September 21st. The biotechnology company reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $5.57. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%. The business had revenue of $27.49 million during the quarter, compared to the consensus estimate of $14.06 million. During the same period last year, the company earned ($1.30) earnings per share. Sell-side analysts anticipate that AnaptysBio will post -1.30 earnings per share for the current fiscal year.

Insider Buying and Selling at AnaptysBio

In related news, Director Hollings Renton sold 5,000 shares of AnaptysBio stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $49.87, for a total value of $249,350.00. Following the sale, the director owned 10,995 shares of the company's stock, valued at approximately $548,320.65. The trade was a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 31.50% of the stock is owned by insiders.

Institutional Trading of AnaptysBio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in AnaptysBio in the second quarter valued at approximately $124,473,000. Affinity Asset Advisors LLC increased its position in shares of AnaptysBio by 111.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 940,000 shares of the biotechnology company's stock worth $52,132,000 after purchasing an additional 495,308 shares during the last quarter. Palo Alto Investors LP bought a new stake in shares of AnaptysBio during the 2nd quarter worth approximately $40,735,508. First Light Asset Management LLC raised its stake in shares of AnaptysBio by 2.9% during the 2nd quarter. First Light Asset Management LLC now owns 582,004 shares of the biotechnology company's stock worth $39,285,000 after purchasing an additional 16,573 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of AnaptysBio during the 2nd quarter worth approximately $28,202,000.

AnaptysBio Company Profile

AnaptysBio, Inc is a clinical-stage biotechnology company focused on developing antibody-based medicines for inflammatory and autoimmune diseases. The company uses its antibody discovery and engineering capabilities to identify therapies designed to modulate immune-system targets involved in disease.

AnaptysBio's pipeline has included rosnilimab, an investigational antibody designed to target CD200R1, a receptor involved in regulating immune-cell activity. The company has evaluated rosnilimab in inflammatory and autoimmune conditions, including rheumatoid arthritis and ulcerative colitis.

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