JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AnaptysBio (NASDAQ:ANAB) Stock

AnaptysBio (NASDAQ:ANAB - Get Free Report) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $42.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 199.68% from the company's current price.

Other research analysts also recently issued research reports about the company. Wedbush reiterated an "outperform" rating and issued a $40.00 price objective on shares of AnaptysBio in a report on Thursday, May 29th. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $22.00 to $38.00 in a research note on Wednesday, June 4th. Guggenheim restated a "buy" rating and set a $90.00 target price (up from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. Finally, Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.13.

AnaptysBio Stock Performance

NASDAQ:ANAB traded down $0.31 during mid-day trading on Thursday, hitting $26.70. 249,671 shares of the stock were exchanged, compared to its average volume of 800,134. The stock has a market capitalization of $784.30 million, a price-to-earnings ratio of -5.50 and a beta of -0.27. The firm's 50-day simple moving average is $23.35 and its 200 day simple moving average is $19.68. AnaptysBio has a fifty-two week low of $12.21 and a fifty-two week high of $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, beating the consensus estimate of ($1.30) by $0.02. The company had revenue of $27.77 million for the quarter, compared to analyst estimates of $15.27 million. AnaptysBio had a negative return on equity of 282.47% and a negative net margin of 125.70%. On average, analysts predict that AnaptysBio will post -6.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Hollings Renton sold 20,925 shares of AnaptysBio stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $23.57, for a total transaction of $493,202.25. Following the transaction, the director owned 4,965 shares of the company's stock, valued at $117,025.05. This trade represents a 80.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 33.50% of the company's stock.

Institutional Trading of AnaptysBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of AnaptysBio by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 166,054 shares of the biotechnology company's stock worth $2,199,000 after acquiring an additional 5,733 shares during the last quarter. Swiss National Bank raised its stake in shares of AnaptysBio by 12.1% during the 4th quarter. Swiss National Bank now owns 29,700 shares of the biotechnology company's stock worth $393,000 after purchasing an additional 3,200 shares during the period. KLP Kapitalforvaltning AS purchased a new position in AnaptysBio during the 4th quarter valued at about $40,000. Vanguard Group Inc. grew its holdings in AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after buying an additional 143,584 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of AnaptysBio by 240.6% in the fourth quarter. JPMorgan Chase & Co. now owns 114,939 shares of the biotechnology company's stock worth $1,522,000 after purchasing an additional 81,195 shares during 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.

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