ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up on Strong Earnings

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $54.58, but opened at $61.64. ANI Pharmaceuticals shares last traded at $61.02, with a volume of 62,223 shares trading hands.

The specialty pharmaceutical company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.22. ANI Pharmaceuticals had a negative net margin of 1.28% and a positive return on equity of 15.87%. The firm had revenue of $190.60 million for the quarter, compared to the consensus estimate of $175.36 million. During the same period in the previous year, the firm posted $0.04 EPS. The business’s quarterly revenue was up 44.8% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Leerink Partners started coverage on ANI Pharmaceuticals in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 price objective for the company. Leerink Partnrs upgraded ANI Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research note on Monday, November 11th. Finally, StockNews.com raised shares of ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ANI Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $77.71.

Insiders Place Their Bets

In related news, SVP Krista Davis sold 1,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $60.20, for a total value of $60,200.00. Following the transaction, the senior vice president now owns 68,624 shares of the company’s stock, valued at $4,131,164.80. This represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen P. Carey sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.79, for a total value of $418,425.00. Following the transaction, the chief financial officer now owns 154,468 shares in the company, valued at approximately $8,617,769.72. This represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,300 shares of company stock worth $584,009 over the last quarter. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ANIP. US Bancorp DE grew its holdings in ANI Pharmaceuticals by 842.9% in the fourth quarter. US Bancorp DE now owns 594 shares of the specialty pharmaceutical company’s stock valued at $33,000 after purchasing an additional 531 shares during the period. KBC Group NV boosted its position in shares of ANI Pharmaceuticals by 89.2% during the fourth quarter. KBC Group NV now owns 1,273 shares of the specialty pharmaceutical company’s stock worth $70,000 after buying an additional 600 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in ANI Pharmaceuticals during the 4th quarter worth approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ANI Pharmaceuticals by 24.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock valued at $177,000 after acquiring an additional 579 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of ANI Pharmaceuticals in the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 76.05% of the company’s stock.

ANI Pharmaceuticals Stock Up 11.3 %

The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -110.83 and a beta of 0.74. The firm’s fifty day simple moving average is $57.06 and its 200 day simple moving average is $58.13.

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.