AnaptysBio (NASDAQ:ANAB) Price Target Raised to $90.00

AnaptysBio (NASDAQ:ANAB) had its price objective hoisted by UBS Group from $70.00 to $90.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the company. Guggenheim reiterated a “buy” rating on shares of AnaptysBio in a report on Thursday, December 18th. Wedbush upped their price target on AnaptysBio from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AnaptysBio in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of AnaptysBio from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Barclays boosted their target price on shares of AnaptysBio from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Nine equities research analysts have rated the stock with 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.44.

AnaptysBio Stock Performance

Shares of NASDAQ ANAB opened at $64.72 on Tuesday. AnaptysBio has a 12-month low of $15.40 and a 12-month high of $68.39. The company has a market cap of $1.86 billion, a P/E ratio of -124.46 and a beta of 0.32. The stock has a fifty day moving average price of $53.46 and a 200 day moving average price of $41.77.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data on Tuesday, March 3rd. The biotechnology company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $108.25 million for the quarter, compared to analysts’ expectations of $87.09 million. On average, sell-side analysts forecast that AnaptysBio will post -6.08 EPS for the current fiscal year.

AnaptysBio announced that its Board of Directors has initiated a share repurchase program on Friday, November 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to buy up to 9.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at AnaptysBio

In other news, Director Magda Marquet sold 11,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the completion of the sale, the director owned 9,930 shares of the company’s stock, valued at approximately $478,923.90. The trade was a 52.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Faga sold 15,309 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $43.26, for a total transaction of $662,267.34. Following the transaction, the chief executive officer directly owned 458,139 shares in the company, valued at $19,819,093.14. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 117,914 shares of company stock worth $5,522,297 over the last 90 days. Company insiders own 33.50% of the company’s stock.

Institutional Investors Weigh In On AnaptysBio

Several large investors have recently added to or reduced their stakes in ANAB. Los Angeles Capital Management LLC lifted its stake in AnaptysBio by 1.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 15,101 shares of the biotechnology company’s stock worth $732,000 after acquiring an additional 225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in AnaptysBio by 24.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,345 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 263 shares during the period. Larson Financial Group LLC grew its stake in AnaptysBio by 21.2% during the 4th quarter. Larson Financial Group LLC now owns 1,624 shares of the biotechnology company’s stock valued at $79,000 after acquiring an additional 284 shares in the last quarter. Susquehanna Portfolio Strategies LLC grew its stake in AnaptysBio by 1.4% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 35,948 shares of the biotechnology company’s stock valued at $1,743,000 after acquiring an additional 500 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of AnaptysBio by 5,864.3% in the 4th 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 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.