AnaptysBio (NASDAQ:ANAB) Given New $54.00 Price Target at Guggenheim

AnaptysBio (NASDAQ:ANAB) had its target price boosted by Guggenheim from $52.00 to $54.00 in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the biotechnology company’s stock.

ANAB has been the topic of several other research reports. Johnson Rice restated a “buy” rating on shares of AnaptysBio in a research note on Wednesday, March 26th. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of AnaptysBio in a report on Thursday, May 1st. HC Wainwright restated a “neutral” rating and set a $22.00 price objective on shares of AnaptysBio in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Wolfe Research began coverage on shares of AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price objective on the stock. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.88.

AnaptysBio Stock Down 0.5 %

ANAB stock opened at $19.58 on Tuesday. The company has a market capitalization of $579.06 million, a PE ratio of -3.22 and a beta of -0.20. The stock’s 50 day moving average is $18.55 and its two-hundred day moving average is $18.81. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $41.31.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings results on Monday, May 5th. The biotechnology company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.02. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $27.77 million for the quarter, compared to analysts’ expectations of $15.27 million. As a group, sell-side analysts anticipate that AnaptysBio will post -6.08 EPS for the current year.

AnaptysBio declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 24th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to buy up to 13.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of AnaptysBio

Several institutional investors and hedge funds have recently made changes to their positions in ANAB. Fairmount Funds Management LLC bought a new stake in AnaptysBio in the fourth quarter valued at approximately $24,050,000. Boxer Capital Management LLC acquired a new position in shares of AnaptysBio during the 4th quarter worth about $17,212,000. Sanofi acquired a new position in AnaptysBio during the fourth quarter valued at approximately $10,882,000. Soleus Capital Management L.P. acquired a new position in shares of AnaptysBio during the 4th quarter worth approximately $5,481,000. Finally, Vanguard Group Inc. boosted its holdings in shares of AnaptysBio by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock valued at $24,411,000 after buying an additional 143,584 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.