AnaptysBio (NASDAQ:ANAB) Stock Rating Upgraded by Zacks Research

AnaptysBio (NASDAQ:ANAB) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on ANAB. Truist Financial raised AnaptysBio to a “hold” rating in a report on Wednesday, March 25th. UBS Group lowered their target price on shares of AnaptysBio from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Wedbush increased their target price on shares of AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Barclays cut their price target on shares of AnaptysBio from $79.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. Finally, Wall Street Zen upgraded shares of AnaptysBio from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $76.18.

AnaptysBio Trading Down 0.4%

Shares of ANAB opened at $69.49 on Monday. The stock has a market cap of $2.02 billion, a PE ratio of -133.64 and a beta of 0.79. AnaptysBio has a 1 year low of $11.40 and a 1 year high of $72.36. The stock has a 50 day simple moving average of $61.18 and a 200-day simple moving average of $50.05.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $87.09 million. On average, sell-side analysts forecast that AnaptysBio will post -3.15 EPS for the current fiscal year.

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

Insider Transactions at AnaptysBio

In other news, insider Eric J. Loumeau sold 10,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $54.00, for a total transaction of $540,000.00. Following the sale, the insider owned 12,835 shares in the company, valued at approximately $693,090. This represents a 43.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Faga sold 17,679 shares of AnaptysBio stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $61.61, for a total value of $1,089,203.19. Following the completion of the transaction, the chief executive officer directly owned 495,965 shares of the company’s stock, valued at $30,556,403.65. This represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 48,324 shares of company stock worth $2,787,594. Insiders own 33.50% of the company’s stock.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of ANAB. Vanguard Group Inc. raised its position in AnaptysBio by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 1,544,037 shares of the biotechnology company’s stock worth $74,855,000 after purchasing an additional 67,048 shares during the last quarter. State Street Corp lifted its holdings in AnaptysBio by 20.6% during the 4th quarter. State Street Corp now owns 1,053,474 shares of the biotechnology company’s stock worth $51,072,000 after buying an additional 180,042 shares in the last quarter. 683 Capital Management LLC boosted its position in AnaptysBio by 18.5% in the 4th quarter. 683 Capital Management LLC now owns 648,093 shares of the biotechnology company’s stock valued at $31,420,000 after buying an additional 101,093 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of AnaptysBio in the 4th quarter valued at $21,559,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of AnaptysBio by 20.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 398,914 shares of the biotechnology company’s stock valued at $19,339,000 after buying an additional 69,094 shares during the period.

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.