Wedbush Reiterates “Outperform” Rating for AnaptysBio (NASDAQ:ANAB)

Wedbush reiterated their outperform rating on shares of AnaptysBio (NASDAQ:ANAB) in a research report released on Thursday,Benzinga reports. Wedbush currently has a $40.00 price objective on the biotechnology company’s stock.

A number of other analysts have also recently weighed in on the company. Guggenheim reissued a “buy” rating on shares of AnaptysBio in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on shares of AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Johnson Rice reaffirmed a “buy” rating on shares of AnaptysBio in a report on Wednesday, March 26th. HC Wainwright reissued a “neutral” rating and set a $22.00 price objective on shares of AnaptysBio in a report on Tuesday, March 4th. Finally, Wolfe Research began coverage on AnaptysBio in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.63.

AnaptysBio Trading Down 2.4 %

ANAB opened at $21.19 on Thursday. The firm has a market cap of $626.67 million, a P/E ratio of -3.49 and a beta of -0.20. AnaptysBio has a 12 month low of $12.21 and a 12 month high of $41.31. The stock has a 50-day moving average of $18.24 and a 200 day moving average of $19.12.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. The business had revenue of $43.11 million during the quarter, compared to the consensus estimate of $10.17 million. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. On average, research analysts forecast that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio announced that its Board of Directors has approved a stock buyback program on Monday, March 24th that authorizes the company to buyback $75.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to purchase up to 13.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of AnaptysBio

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in AnaptysBio by 191.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,744 shares of the biotechnology company’s stock worth $1,130,000 after acquiring an additional 22,164 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of AnaptysBio by 41.0% in the fourth quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock valued at $4,428,000 after purchasing an additional 97,200 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AnaptysBio by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock valued at $24,411,000 after purchasing an additional 143,584 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of AnaptysBio during the 4th quarter worth approximately $311,000. Finally, AlphaQuest LLC raised its position in shares of AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 4,237 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.