ANI Pharmaceuticals (NASDAQ:ANIP) Shares Up 3.4% After Analyst Upgrade

Posted by Defense World Staff on Jul 22nd, 2023

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP – Get Free Report)’s share price shot up 3.4% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $52.00 to $60.00. Truist Financial currently has a buy rating on the stock. ANI Pharmaceuticals traded as high as $53.50 and last traded at $53.44. 19,486 shares traded hands during trading, a decline of 80% from the average session volume of 98,805 shares. The stock had previously closed at $51.68.

A number of other brokerages have also recently issued reports on ANIP. StockNews.com cut ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. HC Wainwright upped their price target on ANI Pharmaceuticals from $53.00 to $60.00 in a report on Tuesday, May 9th. Finally, Guggenheim upped their price target on ANI Pharmaceuticals from $55.00 to $59.00 in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, ANI Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $56.75.

Insider Activity at ANI Pharmaceuticals

In related news, COO Muthusamy Shanmugam sold 10,000 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $50.43, for a total value of $504,300.00. Following the completion of the transaction, the chief operating officer now directly owns 1,272,620 shares in the company, valued at $64,178,226.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Chad Gassert sold 20,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $53.43, for a total value of $1,068,600.00. Following the completion of the transaction, the senior vice president now directly owns 353,226 shares in the company, valued at $18,872,865.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Muthusamy Shanmugam sold 10,000 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $50.43, for a total value of $504,300.00. Following the completion of the transaction, the chief operating officer now owns 1,272,620 shares of the company’s stock, valued at $64,178,226.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,457 shares of company stock worth $5,467,763. 28.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rubric Capital Management LP raised its stake in ANI Pharmaceuticals by 72.3% during the first quarter. Rubric Capital Management LP now owns 648,041 shares of the specialty pharmaceutical company’s stock worth $25,740,000 after acquiring an additional 271,909 shares in the last quarter. BlackRock Inc. raised its stake in ANI Pharmaceuticals by 9.9% during the first quarter. BlackRock Inc. now owns 1,853,463 shares of the specialty pharmaceutical company’s stock worth $52,103,000 after acquiring an additional 166,850 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in ANI Pharmaceuticals during the third quarter worth $4,466,000. Goldman Sachs Group Inc. raised its stake in ANI Pharmaceuticals by 768.8% during the second quarter. Goldman Sachs Group Inc. now owns 135,809 shares of the specialty pharmaceutical company’s stock worth $4,029,000 after acquiring an additional 120,178 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new position in ANI Pharmaceuticals during the first quarter worth $3,007,000. 57.57% of the stock is currently owned by institutional investors and hedge funds.

ANI Pharmaceuticals Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.91, a current ratio of 2.90 and a quick ratio of 2.08. The firm has a 50 day simple moving average of $49.76 and a 200-day simple moving average of $44.20. The stock has a market capitalization of $937.85 million, a price-to-earnings ratio of -30.52 and a beta of 1.07.

ANI Pharmaceuticals (NASDAQ:ANIP – Get Free Report) last announced its earnings results on Monday, May 8th. The specialty pharmaceutical company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.16 by $0.81. The company had revenue of $106.79 million for the quarter, compared to analysts’ expectations of $82.99 million. ANI Pharmaceuticals had a positive return on equity of 10.60% and a negative net margin of 7.34%. On average, sell-side analysts forecast that ANI Pharmaceuticals, Inc. will post 2.56 EPS for the current fiscal year.

ANI Pharmaceuticals Company Profile

(Get Free Report)

ANI Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. It focuses on producing controlled substances, oncology products, hormones and steroids, injectables, and other formulations, including extended release and combination products.