HC Wainwright Lowers AnaptysBio (NASDAQ:ANAB) Price Target to $51.00

AnaptysBio (NASDAQ:ANAB) had its price target lowered by investment analysts at HC Wainwright from $52.00 to $51.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 22.89% from the stock’s current price.

Several other equities research analysts have also commented on ANAB. Truist Financial upped their price target on AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a report on Wednesday, October 8th. Barclays dropped their target price on shares of AnaptysBio from $83.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Stifel Nicolaus raised their price target on shares of AnaptysBio from $55.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, UBS Group reiterated a “neutral” rating and set a $20.00 price objective (up from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.30.

AnaptysBio Stock Down 1.1%

NASDAQ:ANAB opened at $41.50 on Monday. The company has a market cap of $1.15 billion, a P/E ratio of -14.72 and a beta of 0.16. The firm’s 50 day moving average is $32.36 and its two-hundred day moving average is $26.06. AnaptysBio has a fifty-two week low of $12.21 and a fifty-two week high of $43.31.

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

AnaptysBio announced that its Board of Directors has approved a stock repurchase plan on Friday, November 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the biotechnology company to purchase up to 9.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its position in AnaptysBio by 126.5% in the first 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 in the last quarter. Larson Financial Group LLC lifted its position 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 in the last quarter. Bessemer Group Inc. boosted its stake in shares of AnaptysBio by 950.0% in the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 1,292 shares during the period. Tower Research Capital LLC TRC grew its holdings in AnaptysBio by 175.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,377 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in AnaptysBio by 11,630.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after buying an additional 2,326 shares during the period.

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.