Truist Financial Forecasts Strong Price Appreciation for AnaptysBio (NASDAQ:ANAB) Stock

AnaptysBio (NASDAQ:ANAB) had its target price increased by analysts at Truist Financial from $20.00 to $36.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the biotechnology company’s stock. Truist Financial’s target price would suggest a potential upside of 5.03% from the stock’s current price.

A number of other research firms have also commented on ANAB. HC Wainwright lifted their price objective on AnaptysBio from $38.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. UBS Group reiterated a “neutral” rating and set a $20.00 price target (up from $18.00) on shares of AnaptysBio in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of AnaptysBio from $51.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Stifel Nicolaus lifted their target price on shares of AnaptysBio from $55.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AnaptysBio presently has a consensus rating of “Moderate Buy” and an average price target of $62.90.

AnaptysBio Stock Down 13.6%

Shares of ANAB traded down $5.37 during mid-day trading on Monday, reaching $34.28. 1,019,242 shares of the company’s stock were exchanged, compared to its average volume of 701,296. AnaptysBio has a 52-week low of $12.21 and a 52-week high of $40.96. The company has a market cap of $949.13 million, a price-to-earnings ratio of -12.16 and a beta of 0.16. The company has a 50-day simple moving average of $28.81 and a two-hundred day simple moving average of $24.73.

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

Hedge Funds Weigh In On AnaptysBio

A number of hedge funds have recently made changes to their positions in ANAB. US Bancorp DE increased its holdings in shares of AnaptysBio by 126.5% during the 1st quarter. US Bancorp DE now owns 1,753 shares of the biotechnology company’s stock worth $33,000 after buying an additional 979 shares during the last quarter. Bessemer Group Inc. grew its position in AnaptysBio by 950.0% during the third quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 1,292 shares during the period. Tower Research Capital LLC TRC increased its stake in AnaptysBio by 175.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,164 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,377 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of AnaptysBio by 11,630.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,346 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,326 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of AnaptysBio by 1,779.9% in the 1st quarter. Brooklyn Investment Group now owns 6,373 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 6,034 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.