HC Wainwright Brokers Lift Earnings Estimates for AnaptysBio

AnaptysBio, Inc. (NASDAQ:ANAB) – Equities research analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of AnaptysBio in a research note issued on Wednesday, December 11th. HC Wainwright analyst E. Bodnar now expects that the biotechnology company will post earnings of ($6.09) per share for the year, up from their prior estimate of ($6.18). HC Wainwright currently has a “Neutral” rating and a $19.00 price target on the stock. The consensus estimate for AnaptysBio’s current full-year earnings is ($6.02) per share. HC Wainwright also issued estimates for AnaptysBio’s Q4 2024 earnings at ($1.61) EPS, FY2025 earnings at ($6.27) EPS, FY2026 earnings at ($8.18) EPS, FY2027 earnings at ($10.23) EPS and FY2028 earnings at ($10.10) EPS.

AnaptysBio (NASDAQ:ANAB) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The firm had revenue of $30.02 million for the quarter, compared to analysts’ expectations of $7.92 million.

A number of other research analysts have also commented on ANAB. JPMorgan Chase & Co. reduced their price target on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on AnaptysBio from $56.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. UBS Group raised their price target on AnaptysBio from $23.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and set a $40.00 price objective (down previously from $42.00) on shares of AnaptysBio in a report on Wednesday, December 11th. Finally, Guggenheim decreased their price objective on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.09.

AnaptysBio Trading Up 6.8 %

Shares of NASDAQ:ANAB opened at $16.65 on Monday. AnaptysBio has a 12 month low of $14.20 and a 12 month high of $41.31. The stock has a market cap of $506.64 million, a P/E ratio of -2.76 and a beta of -0.11. The company has a 50 day moving average of $25.56 and a 200 day moving average of $29.51.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ANAB. Assenagon Asset Management S.A. increased its position in shares of AnaptysBio by 38.2% during the second quarter. Assenagon Asset Management S.A. now owns 306,633 shares of the biotechnology company’s stock valued at $7,684,000 after buying an additional 84,795 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of AnaptysBio by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company’s stock worth $1,867,000 after acquiring an additional 10,423 shares during the period. Rhumbline Advisers raised its position in shares of AnaptysBio by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company’s stock worth $745,000 after acquiring an additional 525 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of AnaptysBio by 67.3% in the 2nd quarter. TD Asset Management Inc now owns 37,800 shares of the biotechnology company’s stock valued at $947,000 after purchasing an additional 15,200 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of AnaptysBio by 444.8% during the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 2,900 shares in the last quarter.

Insider Transactions at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the sale, the insider now owns 15,398 shares of the company’s stock, valued at $595,440.66. This trade represents a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 33.70% of the stock is currently owned by company insiders.

About AnaptysBio

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.