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AnaptysBio (ANAB) Soars 14.3%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2 min read

AnaptysBio, Inc. (ANAB) shares soared 14.3% in the last trading session to close at $24.34. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.1% loss over the past four weeks.

The company is currently developing a robust portfolio of immune cell modulators, including two checkpoint agonists and a BTLA agonist, which are currently being evaluated in various mid-stage studies for the treatment of several autoimmune and inflammatory diseases such as rheumatoid arthritis and ulcerative colitis. This might have driven the share price rally.

This company is expected to post quarterly loss of $1.54 per share in its upcoming report, which represents a year-over-year change of +2.5%. Revenues are expected to be $4.55 million, up 232.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For AnaptysBio, the consensus EPS estimate for the quarter has been revised 1.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ANAB going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

AnaptysBio belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Sutro Biopharma, Inc. (STRO), closed the last trading session 3.6% lower at $3.40. Over the past month, STRO has returned -33.9%.

For Sutro Biopharma , the consensus EPS estimate for the upcoming report has changed +33.5% over the past month to -$0.91. This represents a change of -19.7% from what the company reported a year ago. Sutro Biopharma currently has a Zacks Rank of #3 (Hold).

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Zacks Investment Research