Zacks Investment Research Upgrades AnaptysBio, Inc. (ANAB) to Buy

Zacks Investment Research upgraded shares of AnaptysBio, Inc. (NASDAQ:ANAB) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $24.00 target price on the biotechnology company’s stock.

According to Zacks, “AnaptysBio, Inc. is a biotechnology company. It involved in the discovery and development of therapeutic antibodies for inflammation and immuno-oncology primarily in the Unites states. AnaptysBio, Inc. is based in San Diego, California. “

A number of other analysts also recently commented on the company. Stifel Nicolaus upped their target price on AnaptysBio from $30.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, May 2nd. Credit Suisse Group restated an outperform rating and issued a $34.00 target price on shares of AnaptysBio in a research note on Tuesday, April 18th. Finally, Robert W. Baird started coverage on AnaptysBio in a research note on Monday, July 10th. They issued an outperform rating and a $36.00 target price on the stock. Six analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average price target of $33.67.

AnaptysBio (NASDAQ:ANAB) opened at 22.06 on Tuesday. The company’s market cap is $448.74 million. AnaptysBio has a 1-year low of $15.17 and a 1-year high of $30.71. The stock has a 50 day moving average price of $24.30 and a 200 day moving average price of $24.51.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Thursday, August 10th. The biotechnology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.29. The company had revenue of $7 million during the quarter, compared to analysts’ expectations of $3.45 million. On average, equities research analysts anticipate that AnaptysBio will post ($1.96) EPS for the current fiscal year.

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In related news, major shareholder Holdings A/S Novo sold 178,600 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $21.16, for a total value of $3,779,176.00. Following the completion of the transaction, the insider now owns 2,436,332 shares of the company’s stock, valued at approximately $51,552,785.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ventures Vii L. P. Avalon sold 37,040 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $24.35, for a total value of $901,924.00. The disclosure for this sale can be found here. Insiders sold a total of 777,640 shares of company stock valued at $16,705,386 in the last ninety days.

A number of institutional investors have recently added to or reduced their stakes in ANAB. Frazier Management LLC acquired a new position in AnaptysBio during the first quarter worth $102,354,000. Perceptive Advisors LLC acquired a new position in AnaptysBio during the first quarter worth $24,474,000. Hamilton Lane Advisors LLC acquired a new position in AnaptysBio during the first quarter worth $11,213,000. Marshall Wace North America L.P. acquired a new position in AnaptysBio during the first quarter worth $6,924,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in AnaptysBio during the first quarter worth $6,924,000. 71.56% of the stock is owned by institutional investors.

About AnaptysBio

AnaptysBio, Inc is a United States-based biotechnology company. The Company is engaged in developing antibody product candidates focused on unmet medical needs in inflammation and immuno-oncology. The Company develops its product candidates using its antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation.

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