Piper Sandler Forecasts Strong Price Appreciation for AnaptysBio (NASDAQ:ANAB) Stock

AnaptysBio (NASDAQ:ANAB) had its price objective boosted by stock analysts at Piper Sandler from $67.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price objective suggests a potential upside of 67.46% from the company’s current price.

Other research analysts have also issued reports about the stock. Stifel Nicolaus increased their price target on shares of AnaptysBio from $56.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Wall Street Zen cut shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Truist Financial raised shares of AnaptysBio to a “hold” rating in a research note on Wednesday, March 25th. UBS Group lifted their target price on shares of AnaptysBio from $70.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $66.00 price target on shares of AnaptysBio in a research report on Monday. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.10.

AnaptysBio Stock Up 2.3%

Shares of ANAB stock opened at $56.73 on Tuesday. The business’s fifty day moving average is $55.88 and its 200 day moving average is $44.33. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -109.09 and a beta of 0.40. AnaptysBio has a twelve month low of $15.40 and a twelve month high of $68.39.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.89 by $0.69. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%.The business had revenue of $108.25 million during the quarter, compared to analyst estimates of $87.09 million. Equities research analysts expect that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

AnaptysBio declared that its board has initiated a stock repurchase program on Friday, March 27th that authorizes the company to repurchase $100,000.00 billion in shares. This repurchase authorization authorizes the biotechnology company to buy up to 5,352,316.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other AnaptysBio news, insider Paul F. Lizzul sold 4,219 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $182,513.94. Following the completion of the sale, the insider directly owned 33,303 shares in the company, valued at approximately $1,440,687.78. This trade represents a 11.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric J. Loumeau sold 10,000 shares of AnaptysBio stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total transaction of $540,000.00. Following the completion of the transaction, the insider directly owned 12,835 shares of the company’s stock, valued at $693,090. This trade represents a 43.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 110,193 shares of company stock worth $5,333,138 over the last quarter. 33.50% of the stock is owned by insiders.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position in shares of AnaptysBio by 940.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,530 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 1,383 shares in the last quarter. Invesco Ltd. lifted its position in AnaptysBio by 192.6% in the 4th quarter. Invesco Ltd. now owns 124,006 shares of the biotechnology company’s stock valued at $6,012,000 after acquiring an additional 81,625 shares in the last quarter. Mackenzie Financial Corp bought a new position in AnaptysBio in the 4th quarter valued at approximately $1,166,000. XTX Topco Ltd boosted its stake in AnaptysBio by 113.3% during the 4th quarter. XTX Topco Ltd now owns 38,637 shares of the biotechnology company’s stock valued at $1,873,000 after purchasing an additional 20,526 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in AnaptysBio during the 4th quarter valued at $215,000.

About AnaptysBio

AnaptysBio, Inc is a clinical-stage biotechnology company focused on the discovery and development of therapeutic antibody product candidates in immunology and inflammation. Founded in 2012 and headquartered in San Diego, California, AnaptysBio leverages a proprietary somatic hypermutation platform to rapidly generate and refine human antibodies with optimized efficacy and safety profiles. The company’s technology is designed to accelerate target validation and candidate selection across a range of immune-mediated conditions.

The company’s pipeline includes multiple clinical-stage programs addressing dermatological and inflammatory disorders.