ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up – Here’s Why

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) gapped up prior to trading on Friday . The stock had previously closed at $58.38, but opened at $61.58. ANI Pharmaceuticals shares last traded at $60.38, with a volume of 39,524 shares trading hands.

Wall Street Analysts Forecast Growth

ANIP has been the subject of several recent analyst reports. Piper Sandler began coverage on ANI Pharmaceuticals in a research note on Friday, October 11th. They set an “overweight” rating and a $68.00 target price for the company. Truist Financial lifted their price target on ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Raymond James boosted their target price on ANI Pharmaceuticals from $81.00 to $83.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. StockNews.com lowered ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Finally, HC Wainwright restated a “buy” rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.33.

ANI Pharmaceuticals Trading Up 4.4 %

The stock’s 50 day moving average is $58.70 and its two-hundred day moving average is $61.58. The company has a market capitalization of $1.28 billion, a PE ratio of 49.90 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 posted its quarterly earnings data on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.07. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $129.09 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that ANI Pharmaceuticals, Inc. will post 3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ANIP. Innealta Capital LLC purchased a new position in ANI Pharmaceuticals in the 2nd quarter valued at $65,000. Ridgewood Investments LLC purchased a new stake in shares of ANI Pharmaceuticals during the second quarter worth approximately $85,000. SG Americas Securities LLC acquired a new position in ANI Pharmaceuticals in the first quarter valued at approximately $106,000. XTX Topco Ltd acquired a new position in ANI Pharmaceuticals in the second quarter valued at approximately $207,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in ANI Pharmaceuticals in the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 76.05% of the company’s stock.

ANI Pharmaceuticals Company Profile

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.