AnaptysBio (NASDAQ:ANAB) was downgraded by Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report issued on Friday, June 21st, Marketbeat Ratings reports. They presently have a $79.00 price objective on the biotechnology company’s stock, down from their prior price objective of $137.00. Credit Suisse Group’s target price would indicate a potential upside of 44.85% from the stock’s current price.
Several other analysts also recently issued reports on ANAB. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Cantor Fitzgerald upped their price objective on Horizon Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Guggenheim set a $27.00 price objective on Cabot Oil & Gas and gave the company a “hold” rating in a research report on Friday, February 22nd. Wedbush restated an “outperform” rating on shares of AnaptysBio in a research report on Friday, March 1st. Finally, Stifel Nicolaus upgraded Protagonist Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $17.00 in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. AnaptysBio currently has a consensus rating of “Buy” and an average target price of $111.25.
ANAB traded up $0.43 during trading on Friday, reaching $54.54. 188,365 shares of the stock were exchanged, compared to its average volume of 381,793. AnaptysBio has a 1 year low of $52.71 and a 1 year high of $110.00. The stock’s 50 day moving average price is $65.13. The firm has a market capitalization of $1.47 billion, a P/E ratio of -21.82 and a beta of 1.38.
In related news, CEO Hamza Suria sold 22,428 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $73.76, for a total transaction of $1,654,289.28. Following the transaction, the chief executive officer now directly owns 31,524 shares in the company, valued at $2,325,210.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marco Londei sold 10,060 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $73.06, for a total value of $734,983.60. Following the transaction, the insider now owns 32,437 shares in the company, valued at $2,369,847.22. The disclosure for this sale can be found here. Corporate insiders own 14.00% of the company’s stock.
A number of large investors have recently made changes to their positions in ANAB. Diag Capital Management LP acquired a new stake in AnaptysBio during the fourth quarter worth about $95,000. Amundi Pioneer Asset Management Inc. acquired a new stake in AnaptysBio during the first quarter worth about $110,000. SG Americas Securities LLC acquired a new stake in AnaptysBio during the fourth quarter worth about $126,000. 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. Finally, Janney Montgomery Scott LLC acquired a new stake in AnaptysBio during the first quarter worth about $290,000.
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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