Wedbush Reaffirms Their Buy Rating on AnaptysBio (ANAB)

Wedbush analyst David Nierengarten maintained a Buy rating on AnaptysBio (ANAB – Research Report) today and set a price target of $34.00. The company’s shares closed yesterday at $26.23.

Nierengarten covers the Healthcare sector, focusing on stocks such as Fate Therapeutics, Oric Pharmaceuticals, and Xencor. According to TipRanks, Nierengarten has an average return of 11.7% and a 44.64% success rate on recommended stocks.

AnaptysBio has an analyst consensus of Strong Buy, with a price target consensus of $50.50, representing a 92.53% upside. In a report released today, Piper Sandler also maintained a Buy rating on the stock with a $80.00 price target.

Based on AnaptysBio’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $9.01 million and a GAAP net loss of $42.21 million. In comparison, last year the company earned a revenue of $6.81 million and had a GAAP net loss of $26.41 million

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ANAB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

AnaptysBio (ANAB) Company Description:

AnaptysBio, Inc. is a clinical stage biotechnology company, which engages in developing antibody product candidates focused on unmet medical needs in inflammation. Its pipeline includes ANB020, ANB019, and checkpoint receptor agonist antibodies. The company was founded by Andrew B. Cubitt, William J. Boyle and Nicholas B. Lydon in November 2005 and is headquartered in San Diego, CA.