AnaptysBio (NASDAQ:ANAB) Price Target Raised to $85.00 at Stifel Nicolaus

AnaptysBio (NASDAQ:ANAB) had its price objective raised by Stifel Nicolaus from $56.00 to $85.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ target price points to a potential upside of 43.95% from the company’s current price.

A number of other analysts also recently issued reports on ANAB. UBS Group initiated coverage on shares of AnaptysBio in a report on Wednesday, January 7th. They issued a “buy” rating and a $70.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AnaptysBio in a research note on Wednesday, January 21st. Barclays boosted their price target on shares of AnaptysBio from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and issued a $50.00 price objective on shares of AnaptysBio in a report on Monday, November 24th. Finally, Wall Street Zen downgraded AnaptysBio from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.89.

AnaptysBio Price Performance

ANAB opened at $59.05 on Thursday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -113.56 and a beta of 0.32. The business’s 50-day moving average price is $50.02 and its two-hundred day moving average price is $38.65. AnaptysBio has a 1 year low of $15.32 and a 1 year high of $62.69.

AnaptysBio (NASDAQ:ANAB) last posted its quarterly earnings data on Monday, March 9th. The biotechnology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.69. The business had revenue of $108.25 million during the quarter, compared to the consensus estimate of $87.09 million. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 5.64%. Sell-side analysts anticipate that AnaptysBio will post -6.08 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, Director Magda Marquet sold 11,000 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $48.23, for a total value of $530,530.00. Following the sale, the director owned 9,930 shares in the company, valued at approximately $478,923.90. This represents a 52.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Faga sold 15,309 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $43.26, for a total transaction of $662,267.34. Following the completion of the transaction, the chief executive officer owned 458,139 shares in the company, valued at approximately $19,819,093.14. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 156,280 shares of company stock valued at $7,254,939 over the last 90 days. 33.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its position in shares of AnaptysBio by 5,864.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 835 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 821 shares during the last quarter. Larson Financial Group LLC boosted its stake in AnaptysBio by 54.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,340 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 473 shares during the period. Bessemer Group Inc. grew its holdings in AnaptysBio by 950.0% in the 3rd quarter. Bessemer Group Inc. now owns 1,428 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 1,292 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 worth $48,000 after buying an additional 1,377 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of AnaptysBio by 11,630.0% during the second 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 in the last quarter.

About AnaptysBio

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.