ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price Up 3.1% – Here’s What Happened

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price rose 3.1% during trading on Wednesday . The company traded as high as $67.95 and last traded at $68.41. Approximately 31,236 shares were traded during trading, a decline of 87% from the average daily volume of 242,756 shares. The stock had previously closed at $66.33.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Guggenheim increased their target price on ANI Pharmaceuticals from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Leerink Partnrs raised shares of ANI Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of ANI Pharmaceuticals in a report on Friday, March 14th. They issued a “buy” rating and a $80.00 price target for the company. StockNews.com upgraded ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. began coverage on ANI Pharmaceuticals in a report on Wednesday, March 12th. They issued an “overweight” rating and a $85.00 price target for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ANI Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.75.

ANI Pharmaceuticals Stock Performance

The firm has a market capitalization of $1.49 billion, a P/E ratio of -124.29 and a beta of 0.63. The stock has a fifty day moving average of $60.31 and a 200-day moving average of $58.31. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52.

Insider Activity

In related news, SVP Krista Davis sold 1,000 shares of ANI Pharmaceuticals stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $60.86, for a total value of $60,860.00. Following the sale, the senior vice president now owns 66,525 shares of the company’s stock, valued at approximately $4,048,711.50. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Meredith Cook sold 400 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $63.33, for a total value of $25,332.00. Following the transaction, the vice president now directly owns 80,545 shares of the company’s stock, valued at $5,100,914.85. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,200 shares of company stock worth $191,776 over the last ninety days. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ANI Pharmaceuticals by 41.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,899 shares of the specialty pharmaceutical company’s stock valued at $2,648,000 after acquiring an additional 13,948 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of ANI Pharmaceuticals in the 4th quarter valued at about $1,128,000. Rafferty Asset Management LLC acquired a new stake in ANI Pharmaceuticals in the 4th quarter valued at about $200,000. ProShare Advisors LLC grew its holdings in ANI Pharmaceuticals by 29.0% during the fourth quarter. ProShare Advisors LLC now owns 6,532 shares of the specialty pharmaceutical company’s stock worth $361,000 after purchasing an additional 1,469 shares during the period. Finally, Nomura Holdings Inc. increased its position in ANI Pharmaceuticals by 1.5% during the fourth quarter. Nomura Holdings Inc. now owns 213,879 shares of the specialty pharmaceutical company’s stock worth $11,823,000 after buying an additional 3,255 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

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.