AnaptysBio’s (ANAB) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of AnaptysBio (NASDAQ:ANAB) in a research note released on Monday morning,Benzinga reports. The brokerage currently has a $50.00 target price on the biotechnology company’s stock.

ANAB has been the topic of several other research reports. 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 report on Monday. UBS Group restated a “neutral” rating and issued a $20.00 price target (up from $18.00) on shares of AnaptysBio in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Truist Financial increased their target price on shares of AnaptysBio from $20.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.30.

AnaptysBio Stock Up 1.6%

Shares of NASDAQ:ANAB opened at $42.16 on Monday. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $43.31. The business has a 50 day moving average of $32.81 and a 200-day moving average of $26.17. The stock has a market cap of $1.17 billion, a PE ratio of -14.95 and a beta of 0.16.

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

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

Institutional Investors Weigh In On AnaptysBio

Hedge funds have recently made changes to their positions in the stock. First Light Asset Management LLC increased its position in AnaptysBio by 433.3% during the 1st quarter. First Light Asset Management LLC now owns 4,633,602 shares of the biotechnology company’s stock worth $86,139,000 after purchasing an additional 3,764,720 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in AnaptysBio by 4,852.7% in the third quarter. Assenagon Asset Management S.A. now owns 839,934 shares of the biotechnology company’s stock valued at $25,719,000 after buying an additional 822,975 shares in the last quarter. Caption Management LLC grew its stake in shares of AnaptysBio by 106.3% during the first quarter. Caption Management LLC now owns 23,376 shares of the biotechnology company’s stock worth $435,000 after buying an additional 394,634 shares during the last quarter. Woodline Partners LP increased its holdings in shares of AnaptysBio by 63.1% during the first quarter. Woodline Partners LP now owns 791,023 shares of the biotechnology company’s stock worth $14,705,000 after buying an additional 305,950 shares in the last quarter. Finally, 683 Capital Management LLC increased its holdings in shares of AnaptysBio by 155.6% during the second quarter. 683 Capital Management LLC now owns 500,000 shares of the biotechnology company’s stock worth $11,100,000 after buying an additional 304,373 shares in 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.