AnaptysBio (NASDAQ:ANAB) Given Buy Rating at Guggenheim

Guggenheim restated their buy rating on shares of AnaptysBio (NASDAQ:ANAB - Free Report) in a research note published on Wednesday morning, MarketBeat reports. The firm currently has a $90.00 target price on the biotechnology company's stock, up from their previous target price of $54.00.

Several other brokerages have also recently weighed in on ANAB. Johnson Rice reiterated a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. JPMorgan Chase & Co. increased their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. HC Wainwright reissued a "neutral" rating and issued a $22.00 target price on shares of AnaptysBio in a report on Tuesday, March 4th. Wells Fargo & Company increased their target price on shares of AnaptysBio from $40.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Wolfe Research began coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They issued an "outperform" rating and a $25.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AnaptysBio has a consensus rating of "Moderate Buy" and a consensus price target of $40.38.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB traded up $1.66 during trading on Wednesday, hitting $22.56. The company's stock had a trading volume of 892,851 shares, compared to its average volume of 610,714. The company has a 50-day moving average of $19.65 and a 200-day moving average of $18.26. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $41.31. The firm has a market cap of $662.81 million, a price-to-earnings ratio of -3.71 and a beta of -0.20.

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

AnaptysBio announced that its Board of Directors has initiated a share repurchase plan on Monday, March 24th that authorizes the company to buyback $75.00 million in shares. This buyback authorization authorizes the biotechnology company to repurchase up to 13.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in AnaptysBio by 2.7% during the 1st quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company's stock valued at $574,000 after buying an additional 826 shares in the last quarter. Woodline Partners LP grew its holdings in AnaptysBio by 63.1% during the 1st quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company's stock valued at $14,705,000 after buying an additional 305,950 shares in the last quarter. Exome Asset Management LLC purchased a new stake in AnaptysBio during the 1st quarter valued at approximately $2,168,000. Granahan Investment Management LLC grew its holdings in AnaptysBio by 38.1% during the 1st quarter. Granahan Investment Management LLC now owns 146,491 shares of the biotechnology company's stock valued at $2,723,000 after buying an additional 40,412 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of AnaptysBio by 153.3% in the first quarter. AQR Capital Management LLC now owns 30,011 shares of the biotechnology company's stock valued at $558,000 after purchasing an additional 18,165 shares in the last quarter.

About AnaptysBio

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.