Wedbush Has Bearish Estimate for AnaptysBio FY2024 Earnings

AnaptysBio, Inc. (NASDAQ:ANAB) – Equities research analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of AnaptysBio in a note issued to investors on Wednesday, December 11th. Wedbush analyst D. Nierengarten now expects that the biotechnology company will post earnings of ($5.91) per share for the year, down from their previous estimate of ($5.22). Wedbush currently has a “Outperform” rating and a $40.00 target price on the stock. The consensus estimate for AnaptysBio’s current full-year earnings is ($6.02) per share. Wedbush also issued estimates for AnaptysBio’s Q4 2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.98) EPS, Q3 2025 earnings at ($1.00) EPS, Q4 2025 earnings at ($1.02) EPS, FY2025 earnings at ($3.96) EPS, FY2026 earnings at ($4.06) EPS, FY2027 earnings at ($4.31) EPS and FY2028 earnings at ($4.96) EPS.

A number of other equities analysts have also issued reports on ANAB. JPMorgan Chase & Co. decreased their price objective on shares of AnaptysBio from $75.00 to $66.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their target price on AnaptysBio from $56.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. BTIG Research cut AnaptysBio from a “buy” rating to a “neutral” rating in a research report on Monday, December 2nd. UBS Group upped their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Guggenheim cut their target price on shares of AnaptysBio from $90.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AnaptysBio has a consensus rating of “Moderate Buy” and an average target price of $45.09.

AnaptysBio Price Performance

Shares of NASDAQ:ANAB opened at $15.99 on Monday. The firm has a market capitalization of $486.56 million, a P/E ratio of -2.55 and a beta of -0.11. The business’s 50-day moving average is $25.23 and its 200 day moving average is $29.46. AnaptysBio has a 1 year low of $14.20 and a 1 year high of $41.31.

AnaptysBio (NASDAQ:ANAB) last released its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative net margin of 289.75% and a negative return on equity of 287.94%. The business had revenue of $30.02 million for the quarter, compared to analyst estimates of $7.92 million.

Institutional Investors Weigh In On AnaptysBio

A number of large investors have recently modified their holdings of the business. Values First Advisors Inc. acquired a new position in AnaptysBio during the third quarter worth about $49,000. nVerses Capital LLC lifted its holdings in AnaptysBio by 700.0% in the third quarter. nVerses Capital LLC now owns 1,600 shares of the biotechnology company’s stock valued at $54,000 after acquiring an additional 1,400 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 2,900 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in AnaptysBio by 81.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,808 shares of the biotechnology company’s stock valued at $195,000 after buying an additional 2,600 shares during the period. Finally, Point72 DIFC Ltd grew its stake in AnaptysBio by 680.5% during the 3rd quarter. Point72 DIFC Ltd now owns 6,127 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 5,342 shares in the last quarter.

Insider Activity at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the transaction, the insider now directly owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This represents a 8.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.70% of the stock is currently owned by corporate insiders.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.