AnaptysBio (NASDAQ:ANAB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

AnaptysBio (NASDAQ:ANAB) had its price objective lifted by JPMorgan Chase & Co. from $36.00 to $42.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of AnaptysBio from $40.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wolfe Research initiated coverage on shares of AnaptysBio in a report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 price target for the company. Guggenheim cut their price target on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BTIG Research downgraded shares of AnaptysBio from a “buy” rating to a “neutral” rating in a research note on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $22.00 target price on shares of AnaptysBio in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AnaptysBio has an average rating of “Moderate Buy” and a consensus target price of $35.11.

AnaptysBio Stock Up 9.8 %

Shares of ANAB stock opened at $16.75 on Wednesday. AnaptysBio has a 12-month low of $12.21 and a 12-month high of $41.31. The company has a market capitalization of $509.69 million and a P/E ratio of -2.75. The firm has a 50-day moving average price of $16.11 and a 200 day moving average price of $24.27.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.61) by $0.89. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The firm had revenue of $43.11 million during the quarter, compared to the consensus estimate of $10.17 million. As a group, research analysts expect that AnaptysBio will post -6.08 earnings per share for the current year.

Insider Buying and Selling

In other AnaptysBio news, Director Ecor1 Capital, Llc purchased 6,646 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was acquired at an average cost of $12.95 per share, with a total value of $86,065.70. Following the completion of the purchase, the director now directly owns 7,880,094 shares in the company, valued at approximately $102,047,217.30. This represents a 0.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 33.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AnaptysBio

A number of institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of AnaptysBio by 11.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,452 shares of the biotechnology company’s stock worth $85,000 after buying an additional 644 shares during the last quarter. Virtus ETF Advisers LLC raised its stake in shares of AnaptysBio by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after buying an additional 936 shares during the last quarter. Rhumbline Advisers raised its stake in shares of AnaptysBio by 3.8% during the fourth quarter. Rhumbline Advisers now owns 30,077 shares of the biotechnology company’s stock worth $398,000 after buying an additional 1,111 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of AnaptysBio by 131.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,697 shares of the biotechnology company’s stock worth $36,000 after buying an additional 1,531 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AnaptysBio by 21.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,012 shares of the biotechnology company’s stock valued at $199,000 after purchasing an additional 2,701 shares during the period.

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.