Stifel Nicolaus Lowers AnaptysBio (NASDAQ:ANAB) Price Target to $56.00

AnaptysBio (NASDAQ:ANAB) had its target price lowered by equities research analysts at Stifel Nicolaus from $80.00 to $56.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 24.61% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Wall Street Zen upgraded AnaptysBio from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. HC Wainwright lowered their price objective on AnaptysBio from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Wedbush restated an “outperform” rating and issued a $50.00 target price on shares of AnaptysBio in a report on Monday, November 24th. Guggenheim lifted their price target on AnaptysBio from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Wells Fargo & Company boosted their price target on shares of AnaptysBio from $51.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.90.

AnaptysBio Stock Down 1.8%

Shares of ANAB opened at $44.94 on Thursday. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $47.86. The stock has a market cap of $1.24 billion, a PE ratio of -15.94 and a beta of 0.29. The firm’s fifty day moving average is $37.24 and its two-hundred day moving average is $28.05.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, beating 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 business had revenue of $76.32 million during the quarter, compared to analysts’ expectations of $15.83 million. As a group, research analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its Board of Directors has approved a share repurchase plan on Friday, November 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the biotechnology company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On AnaptysBio

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake in AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 979 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of AnaptysBio by 54.6% during the third quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 473 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of AnaptysBio by 950.0% during the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 1,292 shares during the period. Tower Research Capital LLC TRC grew its position in AnaptysBio by 175.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 1,377 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 2,326 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.