ANI Pharmaceuticals (NASDAQ:ANIP) Hits New 1-Year Low – Here’s What Happened

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $52.37 and last traded at $52.37, with a volume of 1301 shares traded. The stock had previously closed at $55.04.

Wall Street Analysts Forecast Growth

ANIP has been the subject of a number of research analyst reports. Raymond James raised their price objective on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Monday, November 11th. Truist Financial lifted their target price on shares of ANI Pharmaceuticals from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Leerink Partners started coverage on shares of ANI Pharmaceuticals in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Piper Sandler started coverage on shares of ANI Pharmaceuticals in a research report on Friday, October 11th. They issued an “overweight” rating and a $68.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ANI Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $77.71.

ANI Pharmaceuticals Trading Down 3.0 %

The stock has a market capitalization of $1.12 billion, a P/E ratio of -97.07 and a beta of 0.73. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. The stock’s fifty day moving average price is $56.58 and its two-hundred day moving average price is $59.03.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings data on Friday, November 8th. The specialty pharmaceutical company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25. ANI Pharmaceuticals had a negative net margin of 1.28% and a positive return on equity of 15.87%. The firm had revenue of $148.30 million during the quarter, compared to analyst estimates of $144.37 million. During the same period in the previous year, the business posted $1.05 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts forecast that ANI Pharmaceuticals, Inc. will post 3.87 EPS for the current year.

Insider Buying and Selling

In other ANI Pharmaceuticals news, CFO Stephen P. Carey sold 7,500 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.79, for a total transaction of $418,425.00. Following the transaction, the chief financial officer now directly owns 154,468 shares of the company’s stock, valued at approximately $8,617,769.72. The trade was a 4.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikhil Lalwani sold 33,481 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $57.99, for a total transaction of $1,941,563.19. Following the transaction, the chief executive officer now directly owns 370,378 shares in the company, valued at approximately $21,478,220.22. The trade was a 8.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,981 shares of company stock valued at $2,419,988 over the last three months. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ANI Pharmaceuticals by 24.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock valued at $177,000 after buying an additional 579 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of ANI Pharmaceuticals during the 2nd quarter valued at about $207,000. HighTower Advisors LLC bought a new position in shares of ANI Pharmaceuticals in the 3rd quarter worth approximately $222,000. Profund Advisors LLC bought a new position in shares of ANI Pharmaceuticals in the 2nd quarter worth approximately $225,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of ANI Pharmaceuticals in the 2nd quarter worth approximately $228,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

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.