ANI Pharmaceuticals (NASDAQ:ANIP) Shares Down 2.9% – Here’s What Happened

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) were down 2.9% during trading on Friday . The stock traded as low as $57.65 and last traded at $57.65. Approximately 11,981 shares changed hands during trading, a decline of 95% from the average daily volume of 217,928 shares. The stock had previously closed at $59.39.

Analysts Set New Price Targets

ANIP has been the subject of several research analyst reports. Piper Sandler started coverage on ANI Pharmaceuticals in a report on Friday, October 11th. They issued an “overweight” rating and a $68.00 price objective for the company. Truist Financial raised their price objective on ANI Pharmaceuticals from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. HC Wainwright restated a “buy” rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, November 11th. Finally, Raymond James boosted their price objective on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.33.

ANI Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.97 and a current ratio of 2.74. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -107.98 and a beta of 0.71. The business’s 50 day simple moving average is $58.26 and its 200-day simple moving average is $60.74.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings data on Friday, November 8th. The specialty pharmaceutical company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.25. ANI Pharmaceuticals had a positive return on equity of 15.87% and a negative net margin of 1.28%. The business had revenue of $148.30 million during the quarter, compared to the consensus estimate of $144.37 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. Research analysts anticipate that ANI Pharmaceuticals, Inc. will post 3.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Nikhil Lalwani sold 33,481 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $57.99, for a total value of $1,941,563.19. Following the completion of the sale, the chief executive officer now owns 370,378 shares in the company, valued at $21,478,220.22. This represents a 8.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 33,981 shares of company stock worth $1,970,066. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in ANI Pharmaceuticals by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,306,432 shares of the specialty pharmaceutical company’s stock worth $90,314,000 after buying an additional 17,460 shares during the period. State Street Corp increased its position in shares of ANI Pharmaceuticals by 9.1% in the third quarter. State Street Corp now owns 703,843 shares of the specialty pharmaceutical company’s stock worth $41,991,000 after acquiring an additional 58,698 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ANI Pharmaceuticals by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 630,226 shares of the specialty pharmaceutical company’s stock valued at $40,132,000 after acquiring an additional 21,053 shares during the period. Pacer Advisors Inc. lifted its position in shares of ANI Pharmaceuticals by 23,259.8% in the 3rd quarter. Pacer Advisors Inc. now owns 568,343 shares of the specialty pharmaceutical company’s stock valued at $33,907,000 after acquiring an additional 565,910 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. boosted its stake in ANI Pharmaceuticals by 1.8% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 536,450 shares of the specialty pharmaceutical company’s stock worth $32,005,000 after purchasing an additional 9,500 shares during the period. Institutional investors own 76.05% of the company’s stock.

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.