JPMorgan Chase & Co. Boosts AnaptysBio (NASDAQ:ANAB) Price Target to $80.00

AnaptysBio (NASDAQ:ANAB - Get Free Report) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $42.00 to $80.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 200.86% from the company's previous close.

Several other equities research analysts have also recently weighed in on ANAB. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and increased their price target for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Guggenheim reaffirmed a "buy" rating and set a $90.00 target price (up previously from $54.00) on shares of AnaptysBio in a research note on Wednesday, May 28th. Johnson Rice reaffirmed a "buy" rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Finally, Wedbush reaffirmed an "outperform" rating and set a $40.00 target price on shares of AnaptysBio in a research note on Thursday, May 29th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AnaptysBio has an average rating of "Moderate Buy" and an average target price of $47.13.

AnaptysBio Stock Performance

Shares of ANAB stock traded down $0.35 on Thursday, hitting $26.59. The company had a trading volume of 380,834 shares, compared to its average volume of 796,896. The firm has a market cap of $781.21 million, a P/E ratio of -5.48 and a beta of -0.27. The stock's 50-day moving average is $23.62 and its two-hundred day moving average is $19.92. AnaptysBio has a twelve month low of $12.21 and a twelve month high of $41.31.

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

Insider Transactions at AnaptysBio

In other AnaptysBio news, Director Hollings Renton sold 20,925 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total value of $493,202.25. Following the completion of the sale, the director directly owned 4,965 shares of the company's stock, valued at $117,025.05. This trade represents a 80.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 33.50% of the stock is owned by corporate insiders.

Institutional Trading of AnaptysBio

Large investors have recently bought and sold shares of the company. HighMark Wealth Management LLC purchased a new stake in AnaptysBio in the first quarter worth $1,710,000. Vanguard Group Inc. grew its position in shares of AnaptysBio by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company's stock valued at $24,411,000 after purchasing an additional 143,584 shares in the last quarter. Two Sigma Investments LP grew its position in shares of AnaptysBio by 66.4% in the fourth quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company's stock valued at $4,661,000 after purchasing an additional 140,457 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of AnaptysBio in the first quarter valued at $1,547,000. Finally, Sanofi purchased a new position in shares of AnaptysBio in the fourth quarter valued at $10,882,000.

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.