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

AnaptysBio (NASDAQ:ANAB) had its target price hoisted by analysts at JPMorgan Chase & Co. from $36.00 to $42.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 156.10% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $40.00 price target on shares of AnaptysBio in a research note on Wednesday, February 12th. Wolfe Research assumed coverage on AnaptysBio in a research report on Tuesday, February 4th. They set an “outperform” rating and a $25.00 target price on the stock. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a report on Monday, December 2nd. HC Wainwright restated a “neutral” rating and set a $22.00 price objective on shares of AnaptysBio in a research note on Tuesday. Finally, Guggenheim cut their target price on AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four research 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. According to MarketBeat, AnaptysBio presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.11.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB opened at $16.40 on Wednesday. The business’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $24.22. The company has a market cap of $499.04 million and a P/E ratio of -2.70. AnaptysBio has a one year low of $12.21 and a one year high of $41.31.

AnaptysBio (NASDAQ:ANAB) last issued its quarterly earnings data 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 company had revenue of $43.11 million during the quarter, compared to the consensus estimate of $10.17 million. Analysts predict that AnaptysBio will post -6.08 earnings per share for the current year.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, Director Ecor1 Capital, Llc bought 6,646 shares of the stock in a transaction on Thursday, January 2nd. The stock was purchased at an average price of $12.95 per share, for a total transaction 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 trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 33.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANAB. Tower Research Capital LLC TRC raised its stake in 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 acquiring an additional 1,531 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of AnaptysBio during the fourth quarter valued at approximately $40,000. AlphaQuest LLC raised its position in shares of 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 purchasing an additional 4,237 shares during the period. Virtus ETF Advisers LLC lifted its holdings in shares of AnaptysBio by 24.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,733 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 936 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in AnaptysBio by 1,585.8% during the 4th quarter. Russell Investments Group Ltd. now owns 5,698 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 5,360 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.