What is Wedbush's Forecast for AnaptysBio FY2024 Earnings?

AnaptysBio, Inc. (NASDAQ:ANAB - Free Report) - Equities researchers at Wedbush upped their FY2024 earnings per share estimates for AnaptysBio in a report released on Tuesday, November 5th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will post earnings of ($5.22) per share for the year, up from their previous estimate of ($6.65). Wedbush currently has a "Outperform" rating and a $42.00 target price on the stock. The consensus estimate for AnaptysBio's current full-year earnings is ($6.84) per share. Wedbush also issued estimates for AnaptysBio's Q4 2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.55) EPS, Q3 2025 earnings at ($0.57) EPS, Q4 2025 earnings at ($0.59) EPS, FY2025 earnings at ($2.25) EPS, FY2026 earnings at ($2.38) EPS, FY2027 earnings at ($2.82) EPS and FY2028 earnings at ($3.53) EPS.

AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $30.02 million during the quarter, compared to the consensus estimate of $7.92 million. AnaptysBio had a negative return on equity of 255.68% and a negative net margin of 558.25%.

Several other brokerages have also recently commented on ANAB. HC Wainwright dropped their target price on AnaptysBio from $55.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday. Truist Financial boosted their target price on AnaptysBio from $20.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on AnaptysBio from $69.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. UBS Group boosted their target price on AnaptysBio from $23.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Guggenheim boosted their target price on AnaptysBio from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, AnaptysBio currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.45.

AnaptysBio Trading Down 0.8 %

NASDAQ:ANAB traded down $0.18 during midday trading on Friday, hitting $21.31. 416,110 shares of the stock were exchanged, compared to its average volume of 348,299. AnaptysBio has a one year low of $13.36 and a one year high of $41.31. The company has a market capitalization of $584.53 million, a price-to-earnings ratio of -3.36 and a beta of -0.24. The business has a 50-day moving average price of $32.66 and a two-hundred day moving average price of $29.84.

Insider Activity

In other news, CFO Dennis Mulroy sold 12,220 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total value of $487,700.20. Following the sale, the chief financial officer now directly owns 4,744 shares of the company's stock, valued at approximately $189,333.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $36.50 per share, for a total transaction of $9,999,978.00. Following the completion of the purchase, the insider now owns 7,794,996 shares of the company's stock, valued at approximately $284,517,354. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $39.91, for a total transaction of $487,700.20. Following the completion of the transaction, the chief financial officer now owns 4,744 shares of the company's stock, valued at $189,333.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,440 shares of company stock valued at $892,936. 33.70% of the stock is owned by insiders.

Institutional Trading of AnaptysBio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. increased its holdings in shares of AnaptysBio by 140.7% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company's stock valued at $54,270,000 after purchasing an additional 1,265,891 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of AnaptysBio by 55.1% in the third quarter. Assenagon Asset Management S.A. now owns 475,446 shares of the biotechnology company's stock valued at $15,927,000 after purchasing an additional 168,813 shares in the last quarter. StemPoint Capital LP increased its holdings in shares of AnaptysBio by 499.0% in the first quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company's stock valued at $6,070,000 after purchasing an additional 224,548 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of AnaptysBio in the third quarter valued at approximately $8,874,000. Finally, Victory Capital Management Inc. increased its holdings in shares of AnaptysBio by 677.9% in the third quarter. Victory Capital Management Inc. now owns 237,250 shares of the biotechnology company's stock valued at $7,948,000 after purchasing an additional 206,750 shares in the last quarter.

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.