Rubric Capital Management LP Sells 354,733 Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)

Rubric Capital Management LP decreased its stake in ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Free Report) by 37.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 603,800 shares of the specialty pharmaceutical company's stock after selling 354,733 shares during the period. Rubric Capital Management LP owned about 2.88% of ANI Pharmaceuticals worth $38,450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in ANI Pharmaceuticals in the 2nd quarter valued at approximately $65,000. Ridgewood Investments LLC bought a new position in ANI Pharmaceuticals in the 2nd quarter valued at approximately $85,000. SG Americas Securities LLC bought a new position in ANI Pharmaceuticals in the 1st quarter valued at approximately $106,000. ADAR1 Capital Management LLC bought a new position in ANI Pharmaceuticals in the 4th quarter valued at approximately $132,000. Finally, Clear Street Markets LLC bought a new position in shares of ANI Pharmaceuticals during the fourth quarter valued at $140,000. Institutional investors own 76.05% of the company's stock.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 11,000 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $63.38, for a total value of $697,180.00. Following the completion of the sale, the chief operating officer now directly owns 671,620 shares in the company, valued at $42,567,275.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 11,000 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $63.38, for a total value of $697,180.00. Following the completion of the sale, the chief operating officer now directly owns 671,620 shares in the company, valued at $42,567,275.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chad Gassert sold 20,000 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $63.44, for a total transaction of $1,268,800.00. Following the completion of the sale, the senior vice president now owns 193,226 shares of the company's stock, valued at $12,258,257.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,007 shares of company stock worth $2,911,790. 12.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANIP. StockNews.com downgraded shares of ANI Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, September 7th. Truist Financial reaffirmed a "hold" rating and set a $60.00 price target (down previously from $80.00) on shares of ANI Pharmaceuticals in a research note on Wednesday, September 11th. Raymond James raised their price target on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, ANI Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $78.80.

ANI Pharmaceuticals Trading Down 1.2 %

Shares of ANIP traded down $0.72 during trading hours on Friday, hitting $59.66. 1,287,178 shares of the stock were exchanged, compared to its average volume of 213,375. ANI Pharmaceuticals, Inc. has a fifty-two week low of $48.20 and a fifty-two week high of $70.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.97 and a quick ratio of 3.07. The business has a 50-day moving average of $61.07 and a 200-day moving average of $63.71. The firm has a market capitalization of $1.25 billion, a P/E ratio of 37.29 and a beta of 0.71.

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

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.