ANI Pharmaceuticals (NASDAQ:ANIP) Sees Large Volume Increase Following Analyst Upgrade

Posted by on Aug 12th, 2023

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP – Get Free Report) saw strong trading volume on Friday after TheStreet upgraded the stock from a c+ rating to a b- rating. 79,385 shares traded hands during trading, a decline of 20% from the previous session’s volume of 99,380 shares.The stock last traded at $60.81 and had previously closed at $60.62.

A number of other equities analysts have also weighed in on ANIP. HC Wainwright lifted their price objective on ANI Pharmaceuticals from $53.00 to $60.00 in a research note on Tuesday, May 9th. StockNews.com lowered ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Truist Financial lifted their price target on ANI Pharmaceuticals from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Guggenheim lifted their price target on ANI Pharmaceuticals from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Check Out Our Latest Report on ANIP

Insider Activity at ANI Pharmaceuticals

In related news, COO Muthusamy Shanmugam sold 14,657 shares of ANI Pharmaceuticals stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $51.93, for a total value of $761,138.01. Following the completion of the transaction, the chief operating officer now owns 32,750 shares in the company, valued at approximately $1,700,707.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 14,657 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $51.93, for a total transaction of $761,138.01. Following the completion of the sale, the chief operating officer now directly owns 32,750 shares in the company, valued at approximately $1,700,707.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Chad Gassert sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 353,226 shares of the company’s stock, valued at $18,872,865.18. The disclosure for this sale can be found here. Insiders sold a total of 125,457 shares of company stock worth $6,488,963 in the last 90 days. Corporate insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of ANI Pharmaceuticals by 9.9% during the 2nd quarter. BlackRock Inc. now owns 2,133,100 shares of the specialty pharmaceutical company’s stock worth $114,825,000 after purchasing an additional 191,402 shares during the last quarter. Rubric Capital Management LP boosted its holdings in shares of ANI Pharmaceuticals by 30.7% during the 2nd quarter. Rubric Capital Management LP now owns 847,011 shares of the specialty pharmaceutical company’s stock worth $45,595,000 after purchasing an additional 198,970 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of ANI Pharmaceuticals by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 775,299 shares of the specialty pharmaceutical company’s stock worth $21,793,000 after purchasing an additional 58,523 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ANI Pharmaceuticals by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 543,942 shares of the specialty pharmaceutical company’s stock worth $29,280,000 after purchasing an additional 12,750 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of ANI Pharmaceuticals by 1.9% during the 2nd quarter. William Blair Investment Management LLC now owns 539,128 shares of the specialty pharmaceutical company’s stock worth $29,021,000 after purchasing an additional 9,998 shares during the last quarter. 57.57% of the stock is currently owned by hedge funds and other institutional investors.

ANI Pharmaceuticals Trading Up 3.3 %

The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -130.52 and a beta of 1.07. The company has a fifty day moving average price of $52.39 and a two-hundred day moving average price of $45.50. The company has a current ratio of 3.74, a quick ratio of 2.08 and a debt-to-equity ratio of 0.70.

ANI Pharmaceuticals (NASDAQ:ANIP – Get Free Report) last issued its earnings results on Wednesday, August 9th. The specialty pharmaceutical company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.64. The business had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $99.87 million. ANI Pharmaceuticals had a positive return on equity of 15.77% and a negative net margin of 1.29%. The business’s revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. As a group, research analysts forecast that ANI Pharmaceuticals, Inc. will post 2.64 earnings per share for the current fiscal year.

About ANI Pharmaceuticals

(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.

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