Insider Selling: ANI Pharmaceuticals (NASDAQ:ANIP) COO Sells 52,990 Shares of Stock

Key Points

• ANI Pharmaceuticals COO Muthusamy Shanmugam sold 52,990 shares for approximately $4.6 million, reducing his stake by 9.06% to 531,920 shares.
• The company reported $1.80 EPS for the recent quarter, surpassing analysts' expectations of $1.42, with a revenue increase of 53.2% year-over-year.
• Brokerages have recently upgraded ANI Pharmaceuticals' ratings with several setting price targets above $90, indicating strong investor confidence in the stock.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) COO Muthusamy Shanmugam sold 52,990 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $87.15, for a total transaction of $4,618,078.50. Following the transaction, the chief operating officer owned 531,920 shares in the company, valued at $46,356,828. This represents a 9.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Muthusamy Shanmugam also recently made the following trade(s):

• On Thursday, August 21st, Muthusamy Shanmugam sold 52,988 shares of ANI Pharmaceuticals stock. The stock was sold at an average price of $90.44, for a total transaction of $4,792,234.72.
• On Wednesday, August 20th, Muthusamy Shanmugam sold 47,012 shares of ANI Pharmaceuticals stock. The stock was sold at an average price of $90.27, for a total transaction of $4,243,773.24.
• On Thursday, August 14th, Muthusamy Shanmugam sold 47,010 shares of ANI Pharmaceuticals stock. The stock was sold at an average price of $89.48, for a total transaction of $4,206,454.80.

ANI Pharmaceuticals Stock Down 0.1%

ANIP traded down $0.13 during midday trading on Friday, reaching $91.01. The company's stock had a trading volume of 432,200 shares, compared to its average volume of 737,724. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -118.19 and a beta of 0.61. The company has a current ratio of 2.54, a quick ratio of 1.96 and a debt-to-equity ratio of 1.39. ANI Pharmaceuticals, Inc. has a 1 year low of $52.50 and a 1 year high of $92.53. The stock's 50-day moving average is $70.63 and its 200-day moving average is $65.95.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. The business had revenue of $211.37 million for the quarter, compared to analysts' expectations of $187.18 million. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The business's revenue was up 53.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. As a group, research analysts expect that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANIP. Wells Fargo & Company MN raised its position in ANI Pharmaceuticals by 35.7% in the fourth quarter. Wells Fargo & Company MN now owns 10,169 shares of the specialty pharmaceutical company's stock worth $562,000 after acquiring an additional 2,676 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of ANI Pharmaceuticals by 34.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,930 shares of the specialty pharmaceutical company's stock worth $273,000 after buying an additional 1,256 shares in the last quarter. Legal & General Group Plc grew its stake in shares of ANI Pharmaceuticals by 5.6% in the 4th quarter. Legal & General Group Plc now owns 48,425 shares of the specialty pharmaceutical company's stock worth $2,677,000 after buying an additional 2,585 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of ANI Pharmaceuticals in the 4th quarter worth $3,916,000. Finally, Barclays PLC grew its stake in shares of ANI Pharmaceuticals by 9.8% in the 4th quarter. Barclays PLC now owns 157,060 shares of the specialty pharmaceutical company's stock worth $8,682,000 after buying an additional 14,027 shares in the last quarter. 76.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ANIP shares. Guggenheim reiterated a "buy" rating and issued a $86.00 target price on shares of ANI Pharmaceuticals in a research note on Monday, May 12th. Truist Financial upped their target price on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. HC Wainwright reiterated a "buy" rating and issued a $93.00 target price (up previously from $84.00) on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, ANI Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $84.75.

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.