AnaptysBio (NASDAQ:ANAB) Price Target Cut to $93.00 by Analysts at SunTrust Banks

AnaptysBio (NASDAQ:ANAB) had its price objective trimmed by SunTrust Banks from $125.00 to $93.00 in a research note issued to investors on Monday morning, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock. SunTrust Banks also issued estimates for AnaptysBio’s FY2020 earnings at ($4.73) EPS.

Several other research analysts also recently weighed in on ANAB. Stifel Nicolaus set a $124.00 target price on AnaptysBio and gave the stock a buy rating in a research note on Wednesday, May 8th. Zacks Investment Research downgraded AnaptysBio from a hold rating to a sell rating in a research note on Tuesday, March 5th. Credit Suisse Group downgraded AnaptysBio from an outperform rating to a neutral rating and reduced their price objective for the company from $137.00 to $79.00 in a research note on Friday, June 21st. Cantor Fitzgerald reissued a buy rating and issued a $140.00 price objective on shares of AnaptysBio in a research note on Tuesday, March 26th. Finally, Wedbush reissued an outperform rating on shares of AnaptysBio in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $111.25.

Shares of ANAB stock opened at $53.76 on Monday. The firm has a market cap of $1.45 billion, a P/E ratio of -21.50 and a beta of 1.98. The stock’s 50 day simple moving average is $70.56. AnaptysBio has a 1-year low of $52.93 and a 1-year high of $110.00.

AnaptysBio (NASDAQ:ANAB) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.82) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.83) by $0.01. On average, equities analysts expect that AnaptysBio will post -3.76 earnings per share for the current fiscal year.

In other AnaptysBio news, CEO Hamza Suria sold 22,428 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $73.76, for a total value of $1,654,289.28. Following the completion of the sale, the chief executive officer now directly owns 31,524 shares in the company, valued at approximately $2,325,210.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Marco Londei sold 10,060 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $73.06, for a total value of $734,983.60. Following the completion of the sale, the insider now owns 32,437 shares of the company’s stock, valued at $2,369,847.22. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. purchased a new position in AnaptysBio during the 1st quarter worth approximately $110,000. Sphera Funds Management LTD. purchased a new position in shares of AnaptysBio in the 1st quarter valued at approximately $5,114,000. FMR LLC grew its stake in shares of AnaptysBio by 0.9% in the 1st quarter. FMR LLC now owns 4,047,987 shares of the biotechnology company’s stock valued at $295,705,000 after purchasing an additional 35,252 shares during the last quarter. Redmile Group LLC grew its stake in shares of AnaptysBio by 36.5% in the 1st quarter. Redmile Group LLC now owns 496,918 shares of the biotechnology company’s stock valued at $36,300,000 after purchasing an additional 132,868 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in shares of AnaptysBio by 0.3% in the 1st quarter. OppenheimerFunds Inc. now owns 1,075,890 shares of the biotechnology company’s stock valued at $78,592,000 after purchasing an additional 3,671 shares during the last quarter.

AnaptysBio Company Profile

AnaptysBio, Inc, a clinical stage biotechnology company, engages in developing antibody product candidates focused on unmet medical needs in inflammation. The company's products include Etokimab, an anti-interleukin (IL)-33 program for the treatment of atopic dermatitis, eosinophilic asthma, and chronic rhinosinusitis with nasal polyps; ANB019, an anti-IL-36 receptor program for generalized pustular psoriasis and palmo-plantar pustular psoriasis; and anti-inflammatory checkpoint modulators for inflammatory diseases.

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