ANI Pharmaceuticals (NASDAQ:ANIP) Price Target Raised to $86.00

ANI Pharmaceuticals (NASDAQ:ANIP - Free Report) had its price target boosted by Guggenheim from $84.00 to $86.00 in a research report released on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the specialty pharmaceutical company's stock.

ANIP has been the subject of a number of other research reports. StockNews.com lowered ANI Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a report on Monday, March 3rd. Leerink Partnrs raised ANI Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, December 11th. Finally, Leerink Partners began coverage on ANI Pharmaceuticals in a report on Wednesday, December 11th. They issued an "outperform" rating and a $80.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.00.

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ANI Pharmaceuticals Stock Down 0.7 %

ANIP stock traded down $0.43 on Wednesday, reaching $60.62. 438,170 shares of the company traded hands, compared to its average volume of 225,686. ANI Pharmaceuticals has a one year low of $52.50 and a one year high of $70.81. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.74 and a quick ratio of 1.97. The company has a market cap of $1.27 billion, a P/E ratio of -110.22 and a beta of 0.63. The firm has a fifty day simple moving average of $57.76 and a 200-day simple moving average of $58.11.

Insider Buying and Selling

In related news, CFO Stephen P. Carey sold 7,500 shares of ANI Pharmaceuticals stock in a transaction on Tuesday, December 17th. The stock was 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 owns 154,468 shares of the company's stock, valued at $8,617,769.72. The trade was a 4.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Krista Davis sold 1,000 shares of ANI Pharmaceuticals stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $60.00, for a total value 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. Insiders sold 10,300 shares of company stock valued at $584,009 over the last 90 days. Company insiders own 12.70% of the company's stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ANIP. 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 purchasing an additional 565,910 shares in the last quarter. Millennium Management LLC lifted its position 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 valued at $55,437,000 after purchasing an additional 473,097 shares in the last quarter. JPMorgan Chase & Co. lifted its position in 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 purchasing an additional 340,854 shares in the last quarter. abrdn plc purchased a new position in ANI Pharmaceuticals during the fourth quarter valued at $13,155,000. Finally, Bank of Montreal Can purchased a new position in ANI Pharmaceuticals during the third quarter valued at $13,043,000. 76.05% of the stock is currently 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.