AnaptysBio, Inc. (NASDAQ:ANAB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AnaptysBio, Inc. (NASDAQ:ANAB) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $81.8182.

ANAB has been the topic of a number of recent analyst reports. Zacks Research cut shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. HC Wainwright assumed coverage on shares of AnaptysBio in a research report on Wednesday, June 10th. They set a “buy” rating and a $95.00 price target for the company. Weiss Ratings downgraded shares of AnaptysBio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Wedbush upped their price objective on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Allen Capital Group LLC purchased a new stake in AnaptysBio during the 1st quarter worth approximately $229,000. Bank of America Corp DE boosted its position in AnaptysBio by 283.2% in the 1st quarter. Bank of America Corp DE now owns 501,086 shares of the biotechnology company’s stock valued at $27,790,000 after buying an additional 370,319 shares during the period. ADAR1 Capital Management LLC purchased a new position in AnaptysBio in the 1st quarter valued at approximately $205,000. Royal Bank of Canada grew its stake in shares of AnaptysBio by 145.6% in the first quarter. Royal Bank of Canada now owns 4,219 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 2,501 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of AnaptysBio by 78.9% in the first quarter. The Manufacturers Life Insurance Company now owns 10,166 shares of the biotechnology company’s stock worth $564,000 after acquiring an additional 4,484 shares in the last quarter.

AnaptysBio Stock Up 1.9%

Shares of AnaptysBio stock opened at $66.59 on Friday. AnaptysBio has a 52 week low of $11.40 and a 52 week high of $72.36. The business’s fifty day simple moving average is $60.19 and its 200-day simple moving average is $56.89. The firm has a market cap of $1.97 billion, a PE ratio of -61.66 and a beta of 0.68.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($1.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($1.20). The firm had revenue of $25.56 million during the quarter, compared to analyst estimates of $18.86 million. As a group, equities analysts expect that AnaptysBio will post -1.35 earnings per share for the current year.

AnaptysBio announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

AnaptysBio Company Profile

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.