Cantor Fitzgerald analyst Eliana Merle initiated coverage with a Buy rating on AnaptysBio Inc (NASDAQ: ANAB) today and set a price target of $124. The company’s shares closed on Friday at $88.64.
Merle said:
“. We initiated coverage of Overweight rating and a $124 12-mo. price target. Link to report here. Overall, most investor conversations focused on upcoming asthma data in 3Q. We think overall sentiment on the name is positive ahead of the data, but we get the sense there are some investors on the sidelines who view the asthma data as a de-risking event. Awareness (and interest) in the company’s second clinical program, ANB-019, remains low, which we think supports our thesis that this program could be an underappreciated upside driver as we learn more about the program with clinical data coming in 1H19.”
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AnaptysBio Inc with a $115.50 average 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 earned revenue of $7 million and had a GAAP net loss of $2.68 million.
Based on the recent corporate insider activity of 8 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.
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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.
