AnaptysBio (NASDAQ:ANAB) to Buyback $100.00 million in Shares

AnaptysBio (NASDAQ:ANAB) announced that its board has authorized a stock buyback program on Friday, November 21st, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the biotechnology company to buy up to 9.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ANAB. UBS Group reissued a “neutral” rating and set a $20.00 price target (up from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. Stifel Nicolaus raised their price target on AnaptysBio from $55.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Truist Financial lifted their price objective on AnaptysBio from $20.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Finally, Guggenheim increased their target price on AnaptysBio from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.40.

AnaptysBio Trading Up 5.2%

NASDAQ:ANAB opened at $39.61 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -14.05 and a beta of 0.16. The business’s 50-day moving average price is $31.49 and its two-hundred day moving average price is $25.71. AnaptysBio has a 1-year low of $12.21 and a 1-year high of $40.96.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Tuesday, November 4th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $1.58. AnaptysBio had a negative net margin of 49.94% and a negative return on equity of 1,101.24%. The firm had revenue of $76.32 million for the quarter, compared to the consensus estimate of $15.83 million. Sell-side analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

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.