AnaptysBio (NASDAQ:ANAB) Upgraded at HC Wainwright

HC Wainwright upgraded shares of AnaptysBio (NASDAQ:ANAB) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $38.00 price objective on the biotechnology company’s stock, up from their previous price objective of $22.00.

ANAB has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and issued a $40.00 price target on shares of AnaptysBio in a report on Thursday, May 29th. JPMorgan Chase & Co. upped their price target on AnaptysBio from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Guggenheim restated a “buy” rating and issued a $90.00 price target (up previously from $54.00) on shares of AnaptysBio in a report on Wednesday, May 28th. Finally, Wolfe Research initiated coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.38.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB opened at $23.70 on Wednesday. AnaptysBio has a 1 year low of $12.21 and a 1 year high of $41.31. The stock has a market capitalization of $696.31 million, a P/E ratio of -3.90 and a beta of -0.20. The stock has a 50-day simple moving average of $20.10 and a 200-day simple moving average of $18.35.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Monday, May 5th. The biotechnology company reported ($1.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.02. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $27.77 million during the quarter, compared to analysts’ expectations of $15.27 million. Analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

AnaptysBio announced that its board has initiated a stock buyback plan on Monday, March 24th that permits the company to buyback $75.00 million in outstanding shares. This buyback authorization permits the biotechnology company to purchase up to 13.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On AnaptysBio

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of AnaptysBio by 41.0% during the 4th quarter. Victory Capital Management Inc. now owns 334,450 shares of the biotechnology company’s stock valued at $4,428,000 after acquiring an additional 97,200 shares in the last quarter. Vanguard Group Inc. grew its stake in AnaptysBio by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,843,740 shares of the biotechnology company’s stock worth $24,411,000 after buying an additional 143,584 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in AnaptysBio during the 4th quarter worth $311,000. AlphaQuest LLC grew its stake in AnaptysBio by 1,891.5% during the 4th quarter. AlphaQuest LLC now owns 4,461 shares of the biotechnology company’s stock worth $59,000 after buying an additional 4,237 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in AnaptysBio by 66.4% during the 4th quarter. Two Sigma Investments LP now owns 352,034 shares of the biotechnology company’s stock worth $4,661,000 after buying an additional 140,457 shares during the last quarter.

AnaptysBio Company Profile

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.