ANI Pharmaceuticals (NASDAQ:ANIP) Reaches New 52-Week Low - Here's What Happened

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $52.37 and last traded at $52.37, with a volume of 1301 shares trading hands. The stock had previously closed at $55.04.

Analyst Ratings Changes

A number of research firms have recently weighed in on ANIP. Leerink Partners initiated coverage on ANI Pharmaceuticals in a report on Wednesday, December 11th. They set an "outperform" rating and a $80.00 price target for the company. Piper Sandler started coverage on shares of ANI Pharmaceuticals in a research note on Friday, October 11th. They issued an "overweight" rating and a $68.00 price target on the stock. Truist Financial increased their price objective on shares of ANI Pharmaceuticals from $60.00 to $62.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. HC Wainwright reissued a "buy" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Monday, November 11th. Finally, Leerink Partnrs upgraded ANI Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $77.71.

ANI Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.13 billion, a PE ratio of -98.05 and a beta of 0.73. 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 stock has a fifty day moving average of $56.58 and a 200-day moving average of $59.03.

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

Insider Transactions at ANI Pharmaceuticals

In related news, CEO Nikhil Lalwani sold 33,481 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $57.99, for a total value of $1,941,563.19. Following the transaction, the chief executive officer now directly owns 370,378 shares of the company's stock, valued at $21,478,220.22. This trade represents a 8.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Krista Davis sold 1,000 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now directly owns 49,059 shares of the company's stock, valued at approximately $2,943,540. This trade represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,381 shares of company stock valued at $2,441,556. Insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of ANI Pharmaceuticals by 9.1% during the third quarter. State Street Corp now owns 703,843 shares of the specialty pharmaceutical company's stock worth $41,991,000 after buying an additional 58,698 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ANI Pharmaceuticals by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 630,226 shares of the specialty pharmaceutical company's stock valued at $40,132,000 after purchasing an additional 21,053 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of ANI Pharmaceuticals by 23,259.8% in the third quarter. Pacer Advisors Inc. now owns 568,343 shares of the specialty pharmaceutical company's stock valued at $33,907,000 after purchasing an additional 565,910 shares during the period. JPMorgan Chase & Co. raised its stake in shares of ANI Pharmaceuticals by 159.3% during the third 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 during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its position 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 valued at $32,005,000 after buying an additional 9,500 shares during the last quarter. Hedge funds and other 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.