ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price Up 5.3%

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) shares rose 5.3% on Tuesday . The company traded as high as $59.18 and last traded at $59.18. Approximately 24,380 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 203,521 shares. The stock had previously closed at $56.20.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com downgraded ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. HC Wainwright reaffirmed a “buy” rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a report on Tuesday. Finally, Truist Financial reiterated a “hold” rating and issued a $60.00 price target (down previously from $80.00) on shares of ANI Pharmaceuticals in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.75.

ANI Pharmaceuticals Stock Up 7.4 %

The stock has a fifty day moving average price of $61.27 and a two-hundred day moving average price of $63.85. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 37.53 and a beta of 0.71. The company has a quick ratio of 3.07, a current ratio of 3.97 and a debt-to-equity ratio of 0.62.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings data on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.07. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $129.09 million. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. As a group, sell-side analysts expect that ANI Pharmaceuticals, Inc. will post 3.5 EPS for the current year.

Insider Activity at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $63.44, for a total transaction of $1,268,800.00. Following the transaction, the senior vice president now owns 193,226 shares in the company, valued at approximately $12,258,257.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Muthusamy Shanmugam sold 14,257 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $63.16, for a total transaction of $900,472.12. Following the completion of the sale, the chief operating officer now owns 635,363 shares of the company’s stock, valued at approximately $40,129,527.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $63.44, for a total transaction of $1,268,800.00. Following the completion of the transaction, the senior vice president now directly owns 193,226 shares in the company, valued at $12,258,257.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,007 shares of company stock worth $4,089,790. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of ANI Pharmaceuticals during the 2nd quarter worth $228,000. The Manufacturers Life Insurance Company grew its position in ANI Pharmaceuticals by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 9,498 shares of the specialty pharmaceutical company’s stock valued at $605,000 after acquiring an additional 1,211 shares during the last quarter. Millennium Management LLC raised its stake in ANI Pharmaceuticals by 1,005.8% during the second quarter. Millennium Management LLC now owns 230,079 shares of the specialty pharmaceutical company’s stock worth $14,651,000 after acquiring an additional 209,272 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in shares of ANI Pharmaceuticals by 302.1% in the second quarter. Maverick Capital Ltd. now owns 18,536 shares of the specialty pharmaceutical company’s stock worth $1,180,000 after acquiring an additional 13,926 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its stake in shares of ANI Pharmaceuticals by 11.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 5,138 shares of the specialty pharmaceutical company’s stock valued at $327,000 after purchasing an additional 511 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract development and manufacturing of pharmaceutical products.