What is Wedbush’s Forecast for AnaptysBio FY2024 Earnings?

AnaptysBio, Inc. (NASDAQ:ANAB) – Investment analysts at Wedbush increased their FY2024 earnings per share estimates for AnaptysBio in a report issued on Tuesday, November 5th. Wedbush analyst D. Nierengarten now forecasts that the biotechnology company will earn ($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) last posted its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. The firm had revenue of $30.02 million during the quarter, compared to analysts’ expectations of $7.92 million.

Several other research firms also recently issued reports on ANAB. UBS Group upped their price objective on AnaptysBio from $23.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim upped their price target on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on AnaptysBio from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Truist Financial upped their target price on shares of AnaptysBio from $20.00 to $30.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, HC Wainwright lowered their price target on shares of AnaptysBio from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, AnaptysBio has an average rating of “Moderate Buy” and an average price target of $55.45.

AnaptysBio Price Performance

ANAB opened at $21.49 on Friday. The company’s 50 day simple moving average is $33.00 and its 200-day simple moving average is $29.83. AnaptysBio has a one year low of $13.36 and a one year high of $41.31.

Institutional Investors Weigh In On AnaptysBio

Several institutional investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. grew its holdings in shares of AnaptysBio by 140.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,165,591 shares of the biotechnology company’s stock worth $54,270,000 after buying an additional 1,265,891 shares in the last quarter. StemPoint Capital LP grew its stake in shares of AnaptysBio by 499.0% during the 1st quarter. StemPoint Capital LP now owns 269,548 shares of the biotechnology company’s stock worth $6,070,000 after acquiring an additional 224,548 shares in the last quarter. Victory Capital Management Inc. raised 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 during the last quarter. Assenagon Asset Management S.A. lifted its position 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 worth $15,927,000 after purchasing an additional 168,813 shares in the last quarter. Finally, Platinum Investment Management Ltd. acquired a new position in AnaptysBio during the first quarter worth $1,490,000.

Insider Buying and Selling

In other news, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $36.50 per share, with a total value 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. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Dennis Mulroy sold 12,220 shares of AnaptysBio stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $39.91, for a total transaction of $487,700.20. Following the transaction, the chief financial officer now owns 4,744 shares in the company, valued at $189,333.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ecor1 Capital, Llc bought 273,972 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average cost of $36.50 per share, with a total value of $9,999,978.00. Following the completion of the purchase, the insider now owns 7,794,996 shares in the company, valued at $284,517,354. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 22,440 shares of company stock valued at $892,936 in the last 90 days. 33.70% of the stock is owned by insiders.

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.