Wedbush Has Negative Forecast for AnaptysBio FY2024 Earnings

AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) - Equities researchers at Wedbush dropped their FY2024 earnings estimates for AnaptysBio in a research report issued to clients and investors on Wednesday, December 11th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings of ($5.91) per share for the year, down from their previous estimate of ($5.22). Wedbush has a "Outperform" rating and a $40.00 price objective 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.

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

Several other research analysts have also recently commented on the stock. Guggenheim decreased 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. JPMorgan Chase & Co. lowered their price objective on shares of AnaptysBio from $75.00 to $66.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. BTIG Research downgraded AnaptysBio from a "buy" rating to a "neutral" rating in a report on Monday, December 2nd. Wells Fargo & Company reduced their price objective on AnaptysBio from $56.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, HC Wainwright cut AnaptysBio from a "buy" rating to a "neutral" rating and lowered their target price for the company from $52.00 to $19.00 in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.09.

AnaptysBio Stock Performance

Shares of NASDAQ:ANAB traded up $1.06 during midday trading on Monday, reaching $16.65. The company had a trading volume of 688,019 shares, compared to its average volume of 381,252. The company has a fifty day simple moving average of $25.56 and a two-hundred day simple moving average of $29.51. The firm has a market cap of $506.64 million, a price-to-earnings ratio of -2.76 and a beta of -0.11. AnaptysBio has a 1-year low of $14.20 and a 1-year high of $41.31.

Insider Activity at AnaptysBio

In other news, insider Paul F. Lizzul sold 1,500 shares of the stock in a transaction on Monday, September 23rd. The shares were 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 owns 15,398 shares in the company, valued at approximately $595,440.66. This represents a 8.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 33.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AnaptysBio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in shares of AnaptysBio by 38.2% during the second quarter. Assenagon Asset Management S.A. now owns 306,633 shares of the biotechnology company's stock valued at $7,684,000 after purchasing an additional 84,795 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of AnaptysBio by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 74,510 shares of the biotechnology company's stock valued at $1,867,000 after buying an additional 10,423 shares during the period. Rhumbline Advisers increased its stake in shares of AnaptysBio by 1.8% in the 2nd quarter. Rhumbline Advisers now owns 29,715 shares of the biotechnology company's stock valued at $745,000 after buying an additional 525 shares during the period. TD Asset Management Inc lifted its stake in shares of AnaptysBio by 67.3% during the second quarter. TD Asset Management Inc now owns 37,800 shares of the biotechnology company's stock valued at $947,000 after acquiring an additional 15,200 shares during the period. Finally, Headlands Technologies LLC increased its position in AnaptysBio by 444.8% in the second quarter. Headlands Technologies LLC now owns 3,552 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 2,900 shares during the period.

AnaptysBio Company Profile

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.