ANI Pharmaceuticals (NASDAQ:ANIP) Trading 5.3% Higher

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s stock price rose 5.3% during mid-day trading on Tuesday . The stock traded as high as $59.18 and last traded at $59.18. Approximately 24,380 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 203,521 shares. The stock had previously closed at $56.20.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a report on Tuesday. Truist Financial reiterated a “hold” rating and issued a $60.00 target price (down from $80.00) on shares of ANI Pharmaceuticals in a report on Wednesday, September 11th. Finally, StockNews.com cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, ANI Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $77.75.

ANI Pharmaceuticals Stock Performance

The stock has a market cap of $1.27 billion, a P/E ratio of 37.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.97 and a quick ratio of 3.07. The stock’s 50 day simple moving average is $61.27 and its two-hundred day simple moving average is $63.85.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings data on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.95 by $0.07. The business had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $129.09 million. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. As a group, research analysts forecast that ANI Pharmaceuticals, Inc. will post 3.5 EPS for the current year.

Insider Buying and Selling

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $63.44, for a total value of $1,268,800.00. Following the sale, the senior vice president now owns 193,226 shares in the company, valued at approximately $12,258,257.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $63.44, for a total transaction of $1,268,800.00. Following the sale, the senior vice president now directly owns 193,226 shares of the company’s stock, valued at approximately $12,258,257.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Muthusamy Shanmugam sold 14,257 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $63.16, for a total value of $900,472.12. Following the completion of the transaction, the chief operating officer now owns 635,363 shares of the company’s stock, valued at approximately $40,129,527.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,007 shares of company stock worth $4,089,790. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in ANI Pharmaceuticals in the second quarter valued at $228,000. The Manufacturers Life Insurance Company lifted its stake in ANI Pharmaceuticals by 14.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,498 shares of the specialty pharmaceutical company’s stock valued at $605,000 after purchasing an additional 1,211 shares during the last quarter. Millennium Management LLC grew its holdings in 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 worth $14,651,000 after purchasing an additional 209,272 shares during the period. Maverick Capital Ltd. grew its holdings in ANI Pharmaceuticals by 302.1% during the second quarter. Maverick Capital Ltd. now owns 18,536 shares of the specialty pharmaceutical company’s stock worth $1,180,000 after purchasing an additional 13,926 shares during the period. Finally, Deerfield Management Company L.P. Series C increased its position in ANI Pharmaceuticals by 11.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 5,138 shares of the specialty pharmaceutical company’s stock worth $327,000 after buying an additional 511 shares during the last quarter. 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.