ANI Pharmaceuticals (NASDAQ:ANIP) Raised to Strong-Buy at Leerink Partnrs

ANI Pharmaceuticals (NASDAQ:ANIP) was upgraded by Leerink Partnrs to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also weighed in on ANIP. StockNews.com lowered ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Piper Sandler started coverage on ANI Pharmaceuticals in a research note on Friday, October 11th. They issued an “overweight” rating and a $68.00 price target on the stock. Raymond James increased their price objective on ANI Pharmaceuticals from $81.00 to $83.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Leerink Partners began coverage on shares of ANI Pharmaceuticals in a research note on Wednesday. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.71.

ANI Pharmaceuticals Price Performance

Shares of ANIP stock opened at $59.17 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of -107.58 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. ANI Pharmaceuticals has a 12 month low of $49.28 and a 12 month high of $70.81. The stock has a 50 day moving average of $58.04 and a two-hundred day moving average of $60.39.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings data on Friday, November 8th. The specialty pharmaceutical company reported $1.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $148.30 million during the quarter, compared to analysts’ expectations of $144.37 million. During the same quarter in the prior year, the company posted $1.05 EPS. The business’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts expect that ANI Pharmaceuticals will post 3.87 EPS for the current year.

Insider Activity

In other ANI Pharmaceuticals news, CEO Nikhil Lalwani sold 33,481 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $57.99, for a total transaction of $1,941,563.19. Following the completion of the sale, the chief executive officer now directly owns 370,378 shares of the company’s stock, valued at approximately $21,478,220.22. The trade was a 8.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 33,981 shares of company stock valued at $1,970,066 over the last three months. 12.70% of the stock is owned by insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ANIP. Pacer Advisors Inc. grew its holdings in ANI Pharmaceuticals by 23,259.8% during the 3rd quarter. Pacer Advisors Inc. now owns 568,343 shares of the specialty pharmaceutical company’s stock worth $33,907,000 after acquiring an additional 565,910 shares during the period. Bank of Montreal Can bought a new stake in shares of ANI Pharmaceuticals in the 3rd quarter valued at $13,043,000. Millennium Management LLC increased its position in shares of ANI Pharmaceuticals by 1,005.8% in the 2nd quarter. Millennium Management LLC now owns 230,079 shares of the specialty pharmaceutical company’s stock valued at $14,651,000 after buying an additional 209,272 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in ANI Pharmaceuticals during the third quarter worth about $11,670,000. Finally, Barclays PLC grew its stake in ANI Pharmaceuticals by 1,681.2% in the third quarter. Barclays PLC now owns 143,033 shares of the specialty pharmaceutical company’s stock valued at $8,534,000 after acquiring an additional 135,003 shares during the period. 76.05% of the stock is owned by 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.