ANI Pharmaceuticals (NASDAQ:ANIP) Rating Increased to Hold at StockNews.com

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Wednesday.

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

ANI Pharmaceuticals Price Performance

ANI Pharmaceuticals stock traded up $0.36 during midday trading on Wednesday, reaching $60.55. 255,344 shares of the stock traded hands, compared to its average volume of 182,820. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52. ANI Pharmaceuticals has a 12 month low of $52.50 and a 12 month high of $70.81. The stock's fifty day moving average is $56.71 and its 200-day moving average is $58.49. The stock has a market cap of $1.27 billion, a P/E ratio of -110.09 and a beta of 0.74.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last posted its earnings results on Friday, November 8th. The specialty pharmaceutical company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.25. The firm had revenue of $148.30 million during the quarter, compared to analyst estimates of $144.37 million. ANI Pharmaceuticals had a negative net margin of 1.28% and a positive return on equity of 15.87%. ANI Pharmaceuticals's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. As a group, equities research analysts anticipate that ANI Pharmaceuticals will post 3.86 EPS for the current year.

Insider Transactions at ANI Pharmaceuticals

In related news, CFO Stephen P. Carey sold 7,500 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $55.79, for a total value of $418,425.00. Following the completion of the sale, the chief financial officer now directly owns 154,468 shares of the company's stock, valued at $8,617,769.72. This represents a 4.63 % decrease in their ownership of the stock. The transaction 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 the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 $2,943,540. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,381 shares of company stock valued at $2,441,556. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in ANI Pharmaceuticals by 23,259.8% during the third quarter. Pacer Advisors Inc. now owns 568,343 shares of the specialty pharmaceutical company's stock valued at $33,907,000 after acquiring an additional 565,910 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 valued at $33,101,000 after acquiring an additional 340,854 shares in the last quarter. abrdn plc purchased a new position in shares of ANI Pharmaceuticals in the 4th quarter valued at approximately $13,155,000. Bank of Montreal Can acquired a new stake in ANI Pharmaceuticals in the 3rd quarter worth approximately $13,043,000. Finally, Mizuho Markets Americas LLC purchased a new stake in ANI Pharmaceuticals during the 3rd quarter worth approximately $11,670,000. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

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.