AnaptysBio (NASDAQ:ANAB) Given New $42.00 Price Target at JPMorgan Chase & Co.

AnaptysBio (NASDAQ:ANAB) had its price target lifted by analysts at JPMorgan Chase & Co. from $36.00 to $42.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 177.23% from the stock’s previous close.

ANAB has been the subject of several other research reports. Guggenheim reduced their target price 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. Wells Fargo & Company boosted their price objective on AnaptysBio from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. BTIG Research downgraded AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. Wedbush reissued an “outperform” rating and set a $40.00 price target on shares of AnaptysBio in a report on Wednesday, February 12th. Finally, Wolfe Research started coverage on AnaptysBio in a report on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.11.

AnaptysBio Trading Down 0.7 %

NASDAQ:ANAB traded down $0.10 on Wednesday, hitting $15.15. The company’s stock had a trading volume of 15,979 shares, compared to its average volume of 1,049,424. AnaptysBio has a one year low of $12.21 and a one year high of $41.31. The firm has a market capitalization of $461.00 million and a P/E ratio of -2.50. The stock has a fifty day moving average of $16.05 and a two-hundred day moving average of $24.32.

AnaptysBio (NASDAQ:ANAB) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.61) by $0.89. AnaptysBio had a negative return on equity of 287.94% and a negative net margin of 289.75%. The business had revenue of $43.11 million for the quarter, compared to analyst estimates of $10.17 million. As a group, sell-side analysts anticipate that AnaptysBio will post -6.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Ecor1 Capital, Llc acquired 65,184 shares of the stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $842,177.28. Following the completion of the transaction, the director now directly owns 7,860,180 shares in the company, valued at approximately $101,553,525.60. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 33.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On AnaptysBio

Several hedge funds and other institutional investors have recently modified their holdings of ANAB. Fairmount Funds Management LLC bought a new stake in shares of AnaptysBio during the 4th quarter worth $24,050,000. Boxer Capital Management LLC acquired a new stake in shares of AnaptysBio in the 4th quarter valued at approximately $17,212,000. Sanofi acquired a new stake in shares of AnaptysBio in the 4th quarter valued at approximately $10,882,000. FMR LLC grew its holdings in shares of AnaptysBio by 15.3% during the 3rd quarter. FMR LLC now owns 3,309,175 shares of the biotechnology company’s stock valued at $110,857,000 after purchasing an additional 438,557 shares during the last quarter. Finally, Soleus Capital Management L.P. acquired a new position in AnaptysBio during the 4th quarter worth approximately $5,481,000.

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.