Share Buyback Program Declared by AnaptysBio (NASDAQ:ANAB) Board of Directors

AnaptysBio (NASDAQ:ANAB - Get Free Report) declared that its board has authorized a share repurchase plan on Friday, November 21st, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization allows the biotechnology company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.Analyst Upgrades and DowngradesArgenx's 28% Surge & Promising Product Propel Investor ConfidenceANAB has been the topic of several analyst reports. Barclays cut their price target on shares of AnaptysBio from $83.00 to $70.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. upped their target price on AnaptysBio from $42.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wedbush reissued an "outperform" rating and set a $50.00 price target on shares of AnaptysBio in a research report on Monday, November 10th. Truist Financial raised their price target on AnaptysBio from $20.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, November 10th. Finally, Guggenheim upped their price objective on AnaptysBio from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.40.Check Out Our Latest Stock Report on AnaptysBioAnaptysBio Trading Up 5.2%NASDAQ:ANAB traded up $1.95 on Friday, hitting $39.61. The company's stock had a trading volume of 1,525,352 shares, compared to its average volume of 642,448. AnaptysBio has a one year low of $12.21 and a one year high of $40.96. The firm has a market capitalization of $1.10 billion, a P/E ratio of -14.05 and a beta of 0.16. The stock has a fifty day moving average of $31.49 and a two-hundred day moving average of $25.67. AnaptysBio (NASDAQ:ANAB - Get Free Report) last issued its earnings results on Tuesday, November 4th. The biotechnology company reported $0.52 EPS for the quarter, topping the consensus estimate of ($1.06) by $1.58. AnaptysBio had a negative return on equity of 1,101.24% and a negative net margin of 49.94%.The company had revenue of $76.32 million during the quarter, compared to the consensus estimate of $15.83 million. As a group, sell-side analysts anticipate that AnaptysBio will post -6.08 EPS for the current year. About AnaptysBio Get Free Report)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.Read MoreFive stocks we like better than AnaptysBioWhat is the Nikkei 225 index? A Magnificent AI Bet? Stanley Druckenmiller’s Latest Tech MovesWhat does consumer price index measure? 12 Analysts Just Raised CrowdStrike Targets—Here’s What They See ComingStock Market Holidays 2022-2025 - Here’s When the NYSE and NASDAQ Will be ClosedPalo Alto Networks Stock Just Pulled Back—Is This a Prime Buy Zone?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in AnaptysBio Right Now?Before you consider AnaptysBio, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AnaptysBio wasn't on the list.While AnaptysBio currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here