Guggenheim Boosts AnaptysBio (NASDAQ:ANAB) Price Target to $90.00

AnaptysBio (NASDAQ:ANAB) had its target price upped by Guggenheim from $75.00 to $90.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages also recently commented on ANAB. Wedbush restated an “outperform” rating and issued a $42.00 target price on shares of AnaptysBio in a research note on Thursday, September 26th. Truist Financial raised their price objective on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of AnaptysBio in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their price objective on AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.64.

AnaptysBio Stock Performance

Shares of ANAB stock opened at $34.75 on Monday. The stock has a 50 day moving average price of $35.50 and a 200 day moving average price of $29.63. AnaptysBio has a 52-week low of $13.36 and a 52-week high of $41.31. The firm has a market capitalization of $949.34 million, a P/E ratio of -5.66 and a beta of -0.29.

AnaptysBio (NASDAQ:ANAB) last released its earnings results on Monday, August 5th. The biotechnology company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.82). The business had revenue of $10.97 million for the quarter, compared to the consensus estimate of $25.85 million. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%. As a group, sell-side analysts forecast that AnaptysBio will post -6.84 EPS for the current year.

Insider Buying and Selling at AnaptysBio

In other AnaptysBio news, CFO Dennis Mulroy sold 12,220 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at approximately $189,333.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Dennis Mulroy sold 12,220 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now owns 4,744 shares of the company’s stock, valued at $189,333.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the purchase, the insider now owns 7,794,996 shares in the company, valued at $284,517,354. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 22,440 shares of company stock worth $892,936 over the last quarter. Insiders own 33.70% of the company’s stock.

Hedge Funds Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of AnaptysBio in the first quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in AnaptysBio during the 1st quarter valued at about $265,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of AnaptysBio in the first quarter valued at about $1,221,000. Acadian Asset Management LLC purchased a new position in shares of AnaptysBio in the first quarter worth about $420,000. Finally, Platinum Investment Management Ltd. acquired a new stake in shares of AnaptysBio during the first quarter worth about $1,490,000.

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.