ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) Receives $97.29 Average Price Target from Brokerages

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) have been assigned an average rating of “Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $97.2857.

ANIP has been the topic of a number of research reports. Truist Financial increased their price objective on ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Zacks Research upgraded ANI Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. JPMorgan Chase & Co. increased their price objective on ANI Pharmaceuticals from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Guggenheim increased their price objective on ANI Pharmaceuticals from $86.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Wall Street Zen upgraded ANI Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 16th.

ANI Pharmaceuticals Trading Down 1.2%

ANI Pharmaceuticals stock opened at $89.13 on Friday. The company has a 50 day moving average price of $87.51 and a 200 day moving average price of $72.93. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -115.75 and a beta of 0.58. ANI Pharmaceuticals has a 52 week low of $52.50 and a 52 week high of $99.50.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.38. The business had revenue of $211.37 million during the quarter, compared to analyst estimates of $187.18 million. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The firm’s revenue was up 53.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. Research analysts forecast that ANI Pharmaceuticals will post 3.86 EPS for the current year.

Insider Transactions at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $86.97, for a total transaction of $1,739,400.00. Following the transaction, the senior vice president owned 173,226 shares in the company, valued at $15,065,465.22. This trade represents a 10.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stephen P. Carey sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $86.07, for a total value of $4,303,500.00. Following the transaction, the chief financial officer owned 180,863 shares in the company, valued at approximately $15,566,878.41. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 413,830 shares of company stock valued at $36,495,294 in the last ninety days. 11.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANIP. Advisors Asset Management Inc. acquired a new position in ANI Pharmaceuticals during the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd grew its holdings in ANI Pharmaceuticals by 4,636.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company’s stock valued at $34,000 after purchasing an additional 510 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in ANI Pharmaceuticals by 200.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company’s stock valued at $39,000 after purchasing an additional 400 shares during the last quarter. State of Wyoming acquired a new stake in shares of ANI Pharmaceuticals in the second quarter worth $50,000. Finally, National Bank of Canada FI acquired a new stake in shares of ANI Pharmaceuticals in the first quarter worth $79,000. 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.