Royal Bank Of Canada Raises AnaptysBio, Inc. (ANAB) Price Target to $79.00
AnaptysBio, Inc. (NASDAQ:ANAB) had its price objective increased by analysts at Royal Bank Of Canada from $40.00 to $79.00 in a report issued on Tuesday. Royal Bank Of Canada’s target price suggests a potential upside of 12.20% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group lifted their price objective on shares of AnaptysBio from $38.00 to $85.00 in a research note on Tuesday. JMP Securities lifted their price objective on shares of AnaptysBio from $45.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $35.00 price objective on shares of AnaptysBio in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of AnaptysBio from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, September 13th. Finally, Robert W. Baird started coverage on shares of AnaptysBio in a research note on Monday, July 10th. They issued an “outperform” rating and a $36.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, AnaptysBio currently has a consensus rating of “Buy” and an average price target of $54.43.
Shares of AnaptysBio (NASDAQ ANAB) traded up 101.17% on Tuesday, reaching $70.41. 5,824,148 shares of the company traded hands. AnaptysBio has a 1-year low of $15.17 and a 1-year high of $70.48. The firm’s market capitalization is $1.43 billion. The stock has a 50-day moving average price of $34.23 and a 200 day moving average price of $34.23.
AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.29. The company had revenue of $7.00 million during the quarter, compared to the consensus estimate of $3.45 million. Analysts anticipate that AnaptysBio will post ($1.98) EPS for the current fiscal year.
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In related news, major shareholder Holdings A/S Novo sold 70,706 shares of AnaptysBio stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $23.31, for a total transaction of $1,648,156.86. Following the completion of the transaction, the insider now directly owns 3,009,949 shares of the company’s stock, valued at approximately $70,161,911.19. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ventures Vii L. P. Avalon sold 37,040 shares of AnaptysBio stock in a transaction dated 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 over the last three months.
Several hedge funds have recently added to or reduced their stakes in ANAB. Bank of America Corp DE purchased a new position in shares of AnaptysBio during the 1st quarter worth about $123,000. DAFNA Capital Management LLC boosted its stake in shares of AnaptysBio by 22.2% during the 2nd quarter. DAFNA Capital Management LLC now owns 5,500 shares of the biotechnology company’s stock worth $132,000 after purchasing an additional 1,000 shares during the period. New York State Common Retirement Fund purchased a new position in shares of AnaptysBio during the 2nd quarter worth about $168,000. TIAA CREF Investment Management LLC purchased a new position in shares of AnaptysBio during the 1st quarter worth about $227,000. Finally, Teachers Advisors LLC boosted its stake in shares of AnaptysBio by 23.4% during the 2nd quarter. Teachers Advisors LLC now owns 9,520 shares of the biotechnology company’s stock worth $228,000 after purchasing an additional 1,807 shares during the period. 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.
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