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.

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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.

About AnaptysBio

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.

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Analyst Recommendations for AnaptysBio (NASDAQ:ANAB)

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