ANI Pharmaceuticals (NASDAQ:ANIP) Downgraded by StockNews.com to "Sell"

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Thursday.

Several other research firms have also weighed in on ANIP. HC Wainwright reiterated a "buy" rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a research note on Monday, March 17th. JPMorgan Chase & Co. assumed coverage on shares of ANI Pharmaceuticals in a report on Wednesday, March 12th. They issued an "overweight" rating and a $85.00 target price on the stock. Guggenheim reissued a "buy" rating and set a $86.00 price target on shares of ANI Pharmaceuticals in a report on Friday, April 11th. Jefferies Financial Group began coverage on shares of ANI Pharmaceuticals in a research note on Friday, March 14th. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of ANI Pharmaceuticals from $62.00 to $65.00 and gave the company a "hold" rating in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.13.

ANI Pharmaceuticals Stock Performance

ANI Pharmaceuticals stock traded up $0.18 during mid-day trading on Thursday, reaching $69.82. The company had a trading volume of 205,402 shares, compared to its average volume of 273,758. ANI Pharmaceuticals has a 52 week low of $52.50 and a 52 week high of $70.55. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -126.95 and a beta of 0.49. The company has a 50 day moving average of $64.24 and a 200-day moving average of $59.86. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52.

Insiders Place Their Bets

In related news, VP Meredith Cook sold 400 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $68.96, for a total value of $27,584.00. Following the completion of the sale, the vice president now owns 80,145 shares in the company, valued at approximately $5,526,799.20. This represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Krista Davis sold 1,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $60.86, for a total value of $60,860.00. Following the transaction, the senior vice president now owns 66,525 shares in the company, valued at approximately $4,048,711.50. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,200 shares of company stock valued at $197,792. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

Several hedge funds have recently bought and sold shares of ANIP. Millennium Management LLC raised its stake in ANI Pharmaceuticals by 89.3% during the 4th quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company's stock worth $55,437,000 after buying an additional 473,097 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ANI Pharmaceuticals by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company's stock valued at $37,906,000 after purchasing an additional 30,420 shares in the last quarter. Deep Track Capital LP grew its position in shares of ANI Pharmaceuticals by 28.6% in the 4th quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company's stock valued at $35,879,000 after purchasing an additional 144,214 shares during the period. Global Alpha Capital Management Ltd. increased its stake in ANI Pharmaceuticals by 16.4% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 624,550 shares of the specialty pharmaceutical company's stock worth $34,525,000 after purchasing an additional 88,100 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in ANI Pharmaceuticals by 159.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 554,835 shares of the specialty pharmaceutical company's stock worth $33,101,000 after purchasing an additional 340,854 shares in the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

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.