Credit Suisse Group Increases AnaptysBio, Inc. (ANAB) Price Target to $85.00

AnaptysBio, Inc. (NASDAQ:ANAB) had its price target boosted by Credit Suisse Group from $38.00 to $85.00 in a report released on Tuesday. Credit Suisse Group’s price objective points to a potential upside of 21.53% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. JMP Securities boosted their target price on shares of AnaptysBio from $45.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank Of Canada began coverage on shares of AnaptysBio in a report on Thursday, September 14th. They set an “outperform” rating and a $40.00 target price on the stock. Zacks Investment Research raised shares of AnaptysBio from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating and set a $35.00 target price on shares of AnaptysBio in a report on Tuesday, September 12th. Finally, Robert W. Baird began coverage on shares of AnaptysBio in a report on Monday, July 10th. They set an “outperform” rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.14.

AnaptysBio (NASDAQ:ANAB) opened at 69.94 on Tuesday. The stock has a 50 day moving average price of $37.36 and a 200 day moving average price of $37.36. The firm’s market cap is $1.42 billion. AnaptysBio has a 52-week low of $15.17 and a 52-week high of $74.00.

AnaptysBio (NASDAQ:ANAB) last issued its earnings results on Thursday, August 10th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.29. The business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $3.45 million. Equities analysts predict that AnaptysBio will post ($1.98) earnings per share for the current fiscal year.

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In other news, major shareholder Holdings A/S Novo sold 356,300 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $21.10, for a total transaction of $7,517,930.00. Following the completion of the transaction, the insider now directly owns 1,936,604 shares in the company, valued at approximately $40,862,344.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures Vii L. P. Avalon sold 37,040 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $24.35, for a total transaction of $901,924.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,133,940 shares of company stock valued at $24,223,316 over the last 90 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new position in shares of AnaptysBio during the 1st quarter valued at $24,474,000. Artal Group S.A. grew its position in shares of AnaptysBio by 459.4% during the 2nd quarter. Artal Group S.A. now owns 250,000 shares of the biotechnology company’s stock valued at $5,983,000 after purchasing an additional 205,310 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of AnaptysBio during the 1st quarter valued at $6,924,000. MARSHALL WACE ASIA Ltd purchased a new position in shares of AnaptysBio during the 1st quarter valued at $6,924,000. Finally, Vanguard Group Inc. grew its position in shares of AnaptysBio by 22.6% during the 2nd quarter. Vanguard Group Inc. now owns 206,031 shares of the biotechnology company’s stock valued at $4,931,000 after purchasing an additional 37,932 shares in the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

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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