Wedbush Forecasts Strong Price Appreciation for AnaptysBio (NASDAQ:ANAB) Stock

Key Points

• Wedbush has raised its price target for AnaptysBio (NASDAQ:ANAB) from $40.00 to $45.00, indicating a potential upside of 111.05% from its current price.
• JPMorgan Chase & Co. also significantly increased their price objective on AnaptysBio from $42.00 to $80.00, while Guggenheim raised their target to $90.00.
• Shares of AnaptysBio fell 5.4% to $21.32 during trading, with a year-long price range between $12.21 and $41.31.

AnaptysBio (NASDAQ:ANAB - Get Free Report) had its price objective raised by equities researchers at Wedbush from $40.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the biotechnology company's stock. Wedbush's target price points to a potential upside of 113.98% from the stock's current price. Wedbush also issued estimates for AnaptysBio's Q4 2026 earnings at ($0.84) EPS.

Several other research firms have also issued reports on ANAB. HC Wainwright raised AnaptysBio from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $22.00 to $38.00 in a research note on Wednesday, June 4th. Guggenheim reiterated a "buy" rating and set a $90.00 price target (up previously from $54.00) on shares of AnaptysBio in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AnaptysBio from $42.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Three equities 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 company. According to data from MarketBeat, AnaptysBio presently has a consensus rating of "Moderate Buy" and an average price target of $47.75.

AnaptysBio Trading Up 3.2%

Shares of ANAB stock traded up $0.66 during trading hours on Thursday, reaching $21.03. The stock had a trading volume of 1,049,965 shares, compared to its average volume of 462,321. The stock's fifty day simple moving average is $24.19 and its 200 day simple moving average is $20.47. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $41.31. The firm has a market capitalization of $588.84 million, a PE ratio of -4.69 and a beta of -0.20.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.50) by $0.16. The firm had revenue of $22.26 million during the quarter, compared to the consensus estimate of $11.55 million. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. As a group, equities research analysts anticipate that AnaptysBio will post -6.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hollings Renton sold 20,925 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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 in the company, valued at approximately $117,025.05. The trade was a 80.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 33.50% of the stock is owned by insiders.

Institutional Investors Weigh In On AnaptysBio

A number of hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC bought a new stake in AnaptysBio in the second quarter worth $240,000. Creative Planning lifted its stake in AnaptysBio by 26.9% in the second quarter. Creative Planning now owns 16,854 shares of the biotechnology company's stock worth $374,000 after purchasing an additional 3,571 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in AnaptysBio in the second quarter worth $334,000. Savant Capital LLC bought a new stake in shares of AnaptysBio in the 2nd quarter valued at about $241,000. Finally, Corton Capital Inc. lifted its stake in shares of AnaptysBio by 12.2% in the 2nd quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company's stock valued at $266,000 after acquiring an additional 1,305 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.