Wedbush Reiterates "Outperform" Rating for AnaptysBio (NASDAQ:ANAB)

Key Points

• Wedbush has reiterated an "outperform" rating for AnaptysBio (NASDAQ:ANAB), setting a price target of $45.00, indicating a potential upside of 93.38% from the current stock price.
• Other analysts have upgraded their ratings and price targets for AnaptysBio, with an average rating of "Moderate Buy" and a consensus target price of $48.75.
• AnaptysBio reported better-than-expected quarterly earnings, with $22.26 million in revenue, surpassing analysts' estimates of $11.55 million.

AnaptysBio (NASDAQ:ANAB - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $45.00 price target on the biotechnology company's stock. Wedbush's price objective would indicate a potential upside of 93.38% from the stock's current price.

Other research analysts have also issued reports about the stock. HC Wainwright upgraded shares of AnaptysBio from a "neutral" rating to a "buy" rating and boosted their price target for the company from $22.00 to $38.00 in a research report on Wednesday, June 4th. UBS Group reaffirmed a "neutral" rating and set a $20.00 price objective (up from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, AnaptysBio has an average rating of "Moderate Buy" and a consensus target price of $48.75.

AnaptysBio Stock Down 1.3%

AnaptysBio stock opened at $23.27 on Tuesday. The stock has a market cap of $651.56 million, a P/E ratio of -5.19 and a beta of -0.19. The company's 50 day moving average price is $22.07 and its two-hundred day moving average price is $21.50. AnaptysBio has a 52 week low of $12.21 and a 52 week high of $36.54.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($1.34) earnings per share for the quarter, beating analysts' consensus estimates of ($1.50) by $0.16. AnaptysBio had a negative net margin of 107.66% and a negative return on equity of 366.98%. The business had revenue of $22.26 million during the quarter, compared to analyst estimates of $11.55 million. On average, equities analysts anticipate that AnaptysBio will post -6.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Hollings Renton sold 20,925 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $23.57, for a total transaction of $493,202.25. Following the sale, the director owned 4,965 shares in the company, valued at approximately $117,025.05. This represents a 80.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 33.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On AnaptysBio

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of AnaptysBio by 0.8% in the 4th quarter. Wellington Management Group LLP now owns 66,467 shares of the biotechnology company's stock worth $880,000 after buying an additional 528 shares during the last quarter. Rhumbline Advisers grew its position in AnaptysBio by 2.7% during the 1st quarter. Rhumbline Advisers now owns 30,903 shares of the biotechnology company's stock worth $574,000 after purchasing an additional 826 shares during the last quarter. US Bancorp DE grew its position in AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company's stock worth $33,000 after purchasing an additional 979 shares during the last quarter. Corton Capital Inc. grew its position in AnaptysBio by 12.2% during the 2nd quarter. Corton Capital Inc. now owns 12,004 shares of the biotechnology company's stock worth $266,000 after purchasing an additional 1,305 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in AnaptysBio by 10.3% during the 4th quarter. California State Teachers Retirement System now owns 14,590 shares of the biotechnology company's stock worth $193,000 after purchasing an additional 1,359 shares during 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.

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