Anaptysbio, Inc (NASDAQ: ANAB)

Sector: Healthcare Industry: Biotechnology CIK: 0001370053
P/B -47.19
P/E -16.40
P/S 8.19
Market Cap 1.39 Bn
ROIC (Qtr) -9.27
Div Yield % 0.00
Rev 1y % (Qtr) 154.26
Total Debt (Qtr) 346.45 Mn
Debt/Equity (Qtr) -11.78

About

AnaptysBio, Inc., a clinical-stage biotechnology company, is making waves in the industry with its focus on delivering innovative immunology therapeutics. The company's primary goal is to develop and commercialize novel immunology therapeutics, with a particular emphasis on autoimmune and inflammatory diseases. Operating in the biotechnology industry, AnaptysBio is based in the United States and has carved out a niche for itself through its unique offerings. The company's main business activities revolve around the development and commercialization...

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Analysis

Pros

  • Healthy cash reserves of 109.83M provide 53.84x coverage of short-term debt 2.04M, demonstrating strong liquidity position and minimal refinancing risk.
  • Short-term investments of 139.12M provide solid 4.19x coverage of other current liabilities 33.17M, indicating strong liquidity.
  • Tangible assets of 353.10M provide robust 10.64x coverage of other current liabilities 33.17M, indicating strong asset backing.
  • Retained earnings of (822.17M) represent substantial 27.95x of equity (29.42M), indicating strong internal capital generation.
  • Cash reserves of 109.83M provide robust 2.88x coverage of current liabilities 38.10M, indicating strong short-term solvency.

Cons

  • Operating cash flow of (144.97M) barely covers its investment activities of 125.14M, with a coverage ratio of -1.16, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of 125.14M provide weak support for R&D spending of 153M, which is 0.82x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (144.97M) shows concerning coverage of stock compensation expenses of 35.75M, with a -4.06 ratio indicating potential earnings quality issues.
  • Free cash flow of (145.32M) provides weak coverage of capital expenditures of 349000, with a -416.39 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (144.97M) provides minimal -1882.75x coverage of tax expenses of 77000, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Peer Comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,349.40 Bn -1,464.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 437.43 Bn 6,381.20 87.97 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 116.09 Bn 31.59 9.90 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 78.10 Bn 17.06 5.48 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 55.87 Bn 1,282.42 17.40 3.21 Bn
6 ARGX Argenx Se 52.85 Bn 35.08 27,559.65 -
7 BNTC Benitec Biopharma Inc. 41.75 Bn -998.33 0.00 0.00 Bn
8 INSM INSMED Inc 37.80 Bn -31.93 84.56 0.74 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 4.79 12.31
EV to Cash from Ops. -11.66 23.25
EV to Debt 4.88 738.44
EV to EBIT -19.99 -9.16
EV to EBITDA -64.37 6.95
EV to Free Cash Flow [EV/FCF] -11.63 21.90
EV to Market Cap 1.22 65.67
EV to Revenue 9.97 227.32
Price to Book Value [P/B] -47.19 22.34
Price to Earnings [P/E] -16.40 -11.77

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -11.94
Dividend Payout Ratio % 0.00 0.16
Dividend per Basic Share 0.00 0.01
FCF Dividend Payout Ratio % 0.00 -0.14
Interest Coverage 0.00 841.00

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % 6.93 -27.13
Cash and Equivalents Growth (1y) % -42.67 734.65
Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % 48.91 -46.93
EBITDA Growth (1y) % 81.89 -1.68
EBIT Growth (1y) % 48.96 -56.45
EBT Growth (1y) % 48.96 -12.70
EPS Growth (1y) % 54.93 -28.31
FCF Growth (1y) % -40.56 -31.90
Gross Profit Growth (1y) % 196.42 226.84

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.48 0.14
Cash Payout Ratio 0.00 0.00
Cash Ratio 2.88 3.85
Current Ratio 8.68 7.27
Debt to Equity Ratio -11.78 0.40
Interest Cover Ratio 0.00 841.00
Times Interest Earned 0.00 841.00

Profitability

Metric Value Industry Percentile
EBITDA Margin % -48.50 -18,234.31
EBIT Margin % -49.89 -18,580.80
EBT Margin % -49.89 -19,488.74
Gross Margin % 100.00 -7.59
Net Profit Margin % -49.90 -19,439.22