Zacks Investment Research Lowers AnaptysBio (NASDAQ:ANAB) to Sell

Zacks Investment Research lowered shares of AnaptysBio (NASDAQ:ANAB) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

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 equities analysts have also recently commented on ANAB. Cantor Fitzgerald increased their target price on Horizon Therapeutics from $26.00 to $32.00 and gave the company a buy rating in a report on Tuesday, April 2nd. HC Wainwright set a $126.00 target price on AnaptysBio and gave the company a buy rating in a report on Monday, June 24th. SunTrust Banks reissued a buy rating and set a $35.00 target price on shares of Whiting Petroleum in a report on Monday, June 24th. Credit Suisse Group reduced their target price on from GBX 145 ($1.89) to GBX 105 ($1.37) and set a neutral rating for the company in a report on Friday, June 21st. Finally, Stifel Nicolaus cut AnaptysBio from a buy rating to a hold rating and reduced their target price for the company from $124.00 to $74.00 in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $111.25.

Shares of AnaptysBio stock opened at $54.54 on Tuesday. The firm’s 50 day moving average price is $65.13. AnaptysBio has a 12 month low of $52.71 and a 12 month high of $110.00. The firm has a market capitalization of $1.47 billion, a PE ratio of -21.82 and a beta of 1.38.

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

In related news, insider Marco Londei sold 10,060 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Hamza Suria sold 22,428 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were 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 of the company’s stock, valued at approximately $2,325,210.24. The disclosure for this sale can be found here. 14.00% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of ANAB. Diag Capital Management LP acquired a new stake in shares of AnaptysBio in the fourth quarter valued at approximately $95,000. Amundi Pioneer Asset Management Inc. acquired a new stake in AnaptysBio during the first quarter worth $110,000. Bank of America Corp DE increased its stake in AnaptysBio by 141.2% during the fourth quarter. Bank of America Corp DE now owns 4,397 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 15,067 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in AnaptysBio during the first quarter worth $290,000. Finally, United Services Automobile Association increased its stake in AnaptysBio by 6.2% during the fourth quarter. United Services Automobile Association now owns 4,647 shares of the biotechnology company’s stock worth $296,000 after acquiring an additional 271 shares during the last quarter.

About AnaptysBio

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.

Read More: Total Return

Get a free copy of the Zacks research report on AnaptysBio (ANAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for AnaptysBio (NASDAQ:ANAB)

Receive News & Ratings for AnaptysBio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AnaptysBio and related companies with MarketBeat.com's FREE daily email newsletter.