AnaptysBio, Inc. (ANAB) Rating Increased to Buy at Zacks Investment Research
AnaptysBio, Inc. (NASDAQ:ANAB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $34.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.32% from the stock’s current price.
According to Zacks, “AnaptysBio, Inc. is a biotechnology company. It involved in the discovery and development of therapeutic antibodies for inflammation and immuno-oncology primarily in the Unites states. AnaptysBio, Inc. is based in San Diego, California. “
Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group upped their price target on shares of AnaptysBio from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, August 25th. Robert W. Baird initiated coverage on shares of AnaptysBio in a research report on Monday, July 10th. They issued an “outperform” rating and a $36.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $36.00.
AnaptysBio (NASDAQ ANAB) traded up 3.66% during trading on Thursday, hitting $31.68. 725,345 shares of the stock traded hands. The firm’s market cap is $644.43 million. AnaptysBio has a 12 month low of $15.17 and a 12 month high of $32.05. The firm has a 50-day moving average price of $24.30 and a 200 day moving average price of $24.99.
AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.29. The business had revenue of $7 million during the quarter, compared to analysts’ expectations of $3.45 million. On average, equities analysts forecast that AnaptysBio will post ($1.96) EPS for the current fiscal year.
In other news, major shareholder Holdings A/S Novo sold 70,706 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.31, for a total value of $1,648,156.86. Following the completion of the sale, the insider now owns 3,009,949 shares of the company’s stock, valued at approximately $70,161,911.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ventures Vii L. P. Avalon sold 37,040 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $24.35, for a total transaction of $901,924.00. The disclosure for this sale can be found here. Insiders sold a total of 1,133,940 shares of company stock valued at $24,223,316 in the last ninety days.
Several institutional investors and hedge funds have recently made changes to their positions in ANAB. Bank of New York Mellon Corp purchased a new stake in shares of AnaptysBio in the 1st quarter worth approximately $373,000. JPMorgan Chase & Co. purchased a new stake in shares of AnaptysBio in the 1st quarter worth approximately $3,851,000. Sphera Funds Management LTD. purchased a new stake in shares of AnaptysBio in the 1st quarter worth approximately $708,000. Spark Investment Management LLC purchased a new stake in shares of AnaptysBio in the 1st quarter worth approximately $962,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in shares of AnaptysBio in the 1st quarter worth approximately $227,000. 71.35% of the stock is owned by hedge funds and other institutional investors.
AnaptysBio, Inc is a United States-based biotechnology company. The Company is engaged in developing antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. The Company develops its product candidates using its antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AnaptysBio Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AnaptysBio Inc. and related companies with MarketBeat.com's FREE daily email newsletter.