ANI Pharmaceuticals (NASDAQ:ANIP) Shares Down 2.9% – What’s Next?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) shares traded down 2.9% on Friday . The company traded as low as $57.65 and last traded at $57.65. 11,981 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 217,928 shares. The stock had previously closed at $59.39.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANIP shares. Raymond James raised their price target 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. StockNews.com lowered shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Truist Financial upped their price target 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. HC Wainwright reissued a “buy” rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research report on Monday, November 11th. Finally, Piper Sandler began coverage on ANI Pharmaceuticals in a research note on Friday, October 11th. They issued an “overweight” rating and a $68.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

ANI Pharmaceuticals Price Performance

The firm has a market capitalization of $1.22 billion, a P/E ratio of -107.98 and a beta of 0.71. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.97 and a current ratio of 2.74. The stock has a 50 day moving average of $58.26 and a two-hundred day moving average of $60.74.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its earnings results on Friday, November 8th. The specialty pharmaceutical company reported $1.34 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $144.37 million. During the same quarter last year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Sell-side analysts predict that ANI Pharmaceuticals, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, CEO Nikhil Lalwani sold 33,481 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $57.99, for a total value 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 $21,478,220.22. This represents a 8.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 33,981 shares of company stock worth $1,970,066 in the last 90 days. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in ANI Pharmaceuticals by 23,259.8% during the third quarter. Pacer Advisors Inc. now owns 568,343 shares of the specialty pharmaceutical company’s stock valued at $33,907,000 after acquiring an additional 565,910 shares during the period. Bank of Montreal Can acquired a new stake in shares of ANI Pharmaceuticals during the 3rd quarter worth approximately $13,043,000. Millennium Management LLC increased its position in shares of 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 valued at $14,651,000 after purchasing an additional 209,272 shares during the period. Mizuho Markets Americas LLC acquired a new position in shares of ANI Pharmaceuticals in the third quarter valued at $11,670,000. Finally, Barclays PLC lifted its position 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 worth $8,534,000 after purchasing an additional 135,003 shares during the period. 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.