ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Down Following Insider Selling

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $57.86, but opened at $56.00. ANI Pharmaceuticals shares last traded at $56.00, with a volume of 17,753 shares trading hands.

Specifically, CEO Nikhil Lalwani sold 33,481 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $57.99, for a total transaction of $1,941,563.19. Following the sale, the chief executive officer now owns 370,378 shares of the company’s stock, valued at $21,478,220.22. The trade was a 8.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

Several research firms have recently weighed in on ANIP. StockNews.com cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a report on Monday, November 11th. Truist Financial upped their price target on shares of ANI Pharmaceuticals from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Raymond James upped their price target on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Piper Sandler began coverage on shares of ANI Pharmaceuticals in a report on Friday, October 11th. They issued an “overweight” rating and a $68.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.33.

ANI Pharmaceuticals Trading Up 2.6 %

The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52. The firm’s 50-day simple moving average is $58.28 and its 200-day simple moving average is $60.75. The firm has a market capitalization of $1.25 billion, a PE ratio of -107.98 and a beta of 0.71.

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

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp increased its stake in shares of ANI Pharmaceuticals by 1.3% during the second quarter. Texas Permanent School Fund Corp now owns 13,372 shares of the specialty pharmaceutical company’s stock valued at $852,000 after purchasing an additional 178 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of ANI Pharmaceuticals by 2.7% during the second quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the specialty pharmaceutical company’s stock valued at $490,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in shares of ANI Pharmaceuticals by 4.7% during the second quarter. Arizona State Retirement System now owns 4,702 shares of the specialty pharmaceutical company’s stock valued at $299,000 after purchasing an additional 211 shares in the last quarter. Simplicity Wealth LLC increased its position in shares of ANI Pharmaceuticals by 3.5% during the second quarter. Simplicity Wealth LLC now owns 6,733 shares of the specialty pharmaceutical company’s stock valued at $429,000 after acquiring an additional 227 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of ANI Pharmaceuticals by 1.5% during the first quarter. California State Teachers Retirement System now owns 16,175 shares of the specialty pharmaceutical company’s stock valued at $1,118,000 after acquiring an additional 233 shares in the last quarter. 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.