ANI Pharmaceuticals (NASDAQ:ANIP) Trading 3.1% Higher - Should You Buy?

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) were up 3.1% during trading on Wednesday . The company traded as high as $67.95 and last traded at $68.41. Approximately 31,236 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 242,756 shares. The stock had previously closed at $66.33.

Wall Street Analysts Forecast Growth

ANIP has been the topic of several recent analyst reports. JPMorgan Chase & Co. assumed coverage on shares of ANI Pharmaceuticals in a research note on Wednesday, March 12th. They set an "overweight" rating and a $85.00 price objective on the stock. Leerink Partnrs raised ANI Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, December 11th. Leerink Partners started coverage on ANI Pharmaceuticals in a report on Wednesday, December 11th. They set an "outperform" rating and a $80.00 target price on the stock. Jefferies Financial Group began coverage on shares of ANI Pharmaceuticals in a research report on Friday, March 14th. They set a "buy" rating and a $80.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $79.75.

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ANI Pharmaceuticals Price Performance

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 firm has a market cap of $1.47 billion, a P/E ratio of -122.93 and a beta of 0.63. The business has a 50-day moving average of $60.49 and a two-hundred day moving average of $58.39.

Insider Transactions at ANI Pharmaceuticals

In other news, VP Meredith Cook sold 400 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $63.33, for a total transaction of $25,332.00. Following the completion of the transaction, the vice president now directly owns 80,545 shares in the company, valued at $5,100,914.85. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Krista Davis sold 1,000 shares of ANI Pharmaceuticals 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 completion of the transaction, the senior vice president now directly owns 68,624 shares in the company, valued at approximately $4,131,164.80. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,200 shares of company stock worth $191,776. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

Several large investors have recently modified their holdings of ANIP. Millennium Management LLC boosted its stake in ANI Pharmaceuticals by 89.3% during the fourth quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company's stock worth $55,437,000 after acquiring an additional 473,097 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of ANI Pharmaceuticals by 159.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 554,835 shares of the specialty pharmaceutical company's stock worth $33,101,000 after acquiring an additional 340,854 shares in the last quarter. abrdn plc purchased a new stake in shares of ANI Pharmaceuticals in the fourth quarter valued at about $13,155,000. Bank of Montreal Can bought a new position in shares of ANI Pharmaceuticals during the third quarter valued at about $13,043,000. Finally, Deep Track Capital LP boosted its holdings in ANI Pharmaceuticals by 28.6% during the fourth quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company's stock worth $35,879,000 after purchasing an additional 144,214 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

About ANI Pharmaceuticals

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.