AnaptysBio (NASDAQ:ANAB) Releases Earnings Results, Beats Estimates By $1.95 EPS

Key Points

• AnaptysBio reported EPS of $0.11, beating the consensus estimate of a $1.84 loss by $1.95. Quarterly revenue was $30.27 million, also above estimates of $25.56 million.
• Shares fell $1.00 to $47.77 during Thursday trading, despite the earnings beat.
• Analysts maintain a Moderate Buy consensus rating, with an average price target of $75.67; 12 analysts rate the stock Buy, three Hold, and one Sell.

AnaptysBio (NASDAQ:ANAB - Get Free Report) issued its quarterly earnings data on Thursday. The biotechnology company reported $0.11 EPS for the quarter, beating the consensus estimate of ($1.84) by $1.95, FiscalAI reports. AnaptysBio had a return on equity of 112.00% and a net margin of 82.37%. The firm had revenue of $30.27 million during the quarter, compared to analyst estimates of $25.56 million.

AnaptysBio Price Performance

Shares of ANAB stock traded down $1.00 during trading hours on Thursday, reaching $47.77. 262,896 shares of the company's stock were exchanged, compared to its average volume of 660,430. The company has a market cap of $1.43 billion, a P/E ratio of 8.90 and a beta of 0.70. AnaptysBio has a 1 year low of $21.93 and a 1 year high of $72.36. The company's 50 day moving average is $50.17 and its two-hundred day moving average is $56.31.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ANAB shares. Cantor Fitzgerald restated an "overweight" rating on shares of AnaptysBio in a research note on Tuesday, September 22nd. TD Cowen dropped their target price on shares of AnaptysBio from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Tuesday, August 25th. HC Wainwright reiterated a "buy" rating and issued a $95.00 price objective on shares of AnaptysBio in a report on Tuesday, September 22nd. Wall Street Zen downgraded AnaptysBio from a "buy" rating to a "hold" rating in a research report on Sunday, October 4th. Finally, Scotiabank lowered shares of AnaptysBio to a "hold" rating and set a $70.00 price objective for the company. in a research note on Tuesday, August 25th. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, AnaptysBio presently has a consensus rating of "Moderate Buy" and an average target price of $75.67.

Insider Buying and Selling

In other AnaptysBio news, Director Hollings Renton sold 5,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $49.87, for a total transaction of $249,350.00. Following the completion of the transaction, the director directly owned 10,995 shares in the company, valued at approximately $548,320.65. This trade represents a 31.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 31.50% of the company's stock.

AnaptysBio Company Profile

AnaptysBio is a biotechnology company focused on developing antibody-based treatments for inflammatory and autoimmune diseases. Its research programs target immune pathways that may be involved in conditions with significant unmet medical needs. The company's pipeline has included rosnilimab, an investigational antibody designed to activate the PD-1 pathway, and ANB032, an investigational antibody targeting BTLA. AnaptysBio has also developed imsidolimab, an antibody targeting the IL-36 receptor; global rights to that program were licensed to Vanda Pharmaceuticals.

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