Cantor Fitzgerald analyst Eliana Merle reiterated a Buy rating on AnaptysBio Inc (ANAB) today and set a price target of $140. The company’s shares opened today at $81.31.
Merle said:
“We think weakness is overdone – this is a high conviction pick into 2019 readouts REV 1Q 2Q 3Q 4Q 2017E 0.0E 7.0E 0.0E 3.0E 2018E 0.0E 0.0E 0.0E 0.0E 2019E 0.0E 0.0E 10.0E 10.0E EPS 1Q 2Q 3Q 4Q 2017E (0.75)E (0.13)E (0.45)E (0.30)E 2018E (0.63)E (0.57)E (0.66)E (0.77)E 2019E (0.86)E (0.99)E (0.74)E (0.95)E FY 2017E 2018E 2019E REV 10.0E 0.0E 20.0E EPS (1.52)E (2.63)E (3.53)E $140 price target. We think today’s weakness (down ~15%) is overdone and we still forecast a catalyst rich 2019. The company filed their 3Q financials yesterday (no conference call). All timelines remain on track EXCEPT the GPP (ANB019) topline data has been moved from early 2019 to mid 2019. We spoke to management last night and we do not have concerns around this timing shift.”
According to TipRanks.com, Merle is ranked #3482 out of 4912 analysts.
AnaptysBio Inc has an analyst consensus of Strong Buy, with a price target consensus of $148, which is an 82.0% upside from current levels. In a report released today, Credit Suisse also maintained a Buy rating on the stock with a $143 price target.
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Based on AnaptysBio Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.62 million. In comparison, last year the company had a GAAP net loss of $9.09 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying 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, 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.
