ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up - Here's Why

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $58.38, but opened at $61.58. ANI Pharmaceuticals shares last traded at $60.38, with a volume of 39,524 shares traded.

Wall Street Analyst Weigh In

ANIP has been the topic of a number of recent research reports. Piper Sandler started coverage on ANI Pharmaceuticals in a research note on Friday, October 11th. They issued an "overweight" rating and a $68.00 target price on the stock. Raymond James increased their target price on ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an "outperform" rating in a report on Wednesday, September 18th. Truist Financial increased their target price on ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. StockNews.com cut ANI Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, September 7th. Finally, HC Wainwright reiterated a "buy" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.33.

ANI Pharmaceuticals Trading Up 5.2 %

The company has a market cap of $1.29 billion, a PE ratio of 53.02 and a beta of 0.71. The business has a 50 day simple moving average of $58.70 and a two-hundred day simple moving average of $61.58. The company has a current ratio of 3.97, a quick ratio of 3.07 and a debt-to-equity ratio of 0.62.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.95 by $0.07. ANI Pharmaceuticals had a return on equity of 15.64% and a net margin of 5.01%. The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $129.09 million. During the same period last year, the company posted $1.06 earnings per share. The firm's revenue was up 18.5% compared to the same quarter last year. On average, analysts forecast that ANI Pharmaceuticals, Inc. will post 3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ANIP. Innealta Capital LLC acquired a new stake in shares of ANI Pharmaceuticals during the second quarter valued at about $65,000. Ridgewood Investments LLC acquired a new stake in shares of ANI Pharmaceuticals during the second quarter valued at about $85,000. SG Americas Securities LLC acquired a new stake in shares of ANI Pharmaceuticals during the first quarter valued at about $106,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of ANI Pharmaceuticals during the first quarter valued at about $218,000. Finally, XTX Topco Ltd acquired a new stake in shares of ANI Pharmaceuticals during the second quarter valued at about $207,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

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.