ANI Pharmaceuticals (NASDAQ:ANIP) Trading Down 3% After Insider Selling

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price traded down 3% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $60.66 and last traded at $60.74. 44,865 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 147,031 shares. The stock had previously closed at $62.64.

Specifically, SVP Chad Gassert sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $66.62, for a total value of $1,332,400.00. Following the transaction, the senior vice president now directly owns 233,226 shares of the company’s stock, valued at approximately $15,537,516.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Christopher Mutz sold 2,000 shares of ANI Pharmaceuticals stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $61.61, for a total transaction of $123,220.00. Following the sale, the insider now directly owns 83,277 shares of the company’s stock, valued at approximately $5,130,695.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chad Gassert sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $66.62, for a total transaction of $1,332,400.00. Following the completion of the transaction, the senior vice president now directly owns 233,226 shares of the company’s stock, valued at approximately $15,537,516.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,688 shares of company stock worth $11,332,663. Company insiders own 12.70% of the company’s stock.

Analysts Set New Price Targets

ANIP has been the topic of a number of analyst reports. Capital One Financial initiated coverage on ANI Pharmaceuticals in a research report on Friday, March 15th. They issued an “overweight” rating and a $80.00 price target on the stock. Guggenheim reissued a “buy” rating and set a $77.00 target price on shares of ANI Pharmaceuticals in a research report on Tuesday, April 23rd. Finally, HC Wainwright boosted their price target on shares of ANI Pharmaceuticals from $87.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $82.75.

ANI Pharmaceuticals Stock Performance

The company’s 50-day moving average is $64.10 and its two-hundred day moving average is $61.97. The company has a quick ratio of 3.12, a current ratio of 3.95 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.28 billion, a P/E ratio of 39.15 and a beta of 0.75.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings results on Friday, May 10th. The specialty pharmaceutical company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.16. ANI Pharmaceuticals had a return on equity of 17.15% and a net margin of 6.87%. The firm had revenue of $137.43 million for the quarter, compared to analysts’ expectations of $125.01 million. Equities analysts predict that ANI Pharmaceuticals, Inc. will post 3.32 EPS for the current year.

Institutional Trading of ANI Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP boosted its stake in ANI Pharmaceuticals by 32.8% during the fourth quarter. Rubric Capital Management LP now owns 1,125,000 shares of the specialty pharmaceutical company’s stock valued at $62,032,000 after buying an additional 277,989 shares during the period. Vanguard Group Inc. grew its holdings in shares of ANI Pharmaceuticals by 5.4% during the third quarter. Vanguard Group Inc. now owns 1,132,378 shares of the specialty pharmaceutical company’s stock worth $65,746,000 after purchasing an additional 58,204 shares in the last quarter. Global Alpha Capital Management Ltd. increased its position in shares of ANI Pharmaceuticals by 10.8% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 582,428 shares of the specialty pharmaceutical company’s stock worth $32,115,000 after purchasing an additional 56,900 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in ANI Pharmaceuticals during the third quarter valued at approximately $3,007,000. Finally, Assenagon Asset Management S.A. lifted its position in ANI Pharmaceuticals by 121.3% during the first quarter. Assenagon Asset Management S.A. now owns 83,944 shares of the specialty pharmaceutical company’s stock valued at $5,803,000 after purchasing an additional 46,008 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors.

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.