ANI Pharmaceuticals (NASDAQ:ANIP) SVP Sells $1,739,400.00 in Stock

Key Points

• Chad Gassert, Senior Vice President of ANI Pharmaceuticals, sold 20,000 shares of stock for approximately $1.74 million, reducing his position by 10.35%.
• ANI Pharmaceuticals reported earnings per share (EPS) of $1.80 for the quarter, exceeding estimates by $0.38, with revenue increasing by 53.2% year-over-year.
• Institutional investors hold 76.05% of ANI Pharmaceuticals' shares, with several firms increasing their stakes in the company during the last quarter.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) SVP Chad Gassert sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $86.97, for a total value of $1,739,400.00. Following the completion of the transaction, the senior vice president directly owned 173,226 shares of the company's stock, valued at approximately $15,065,465.22. This represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ANI Pharmaceuticals Stock Performance

Shares of ANIP stock traded down $0.13 during trading on Friday, hitting $91.01. The company's stock had a trading volume of 432,200 shares, compared to its average volume of 737,724. The company has a market cap of $1.97 billion, a PE 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. The business has a fifty day moving average of $70.63 and a 200-day moving average of $65.95. ANI Pharmaceuticals, Inc. has a 52 week low of $52.50 and a 52 week high of $92.53.

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

Institutional Investors Weigh In On ANI Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in shares of ANI Pharmaceuticals during the first quarter worth $28,000. Caitong International Asset Management Co. Ltd raised its position in shares of ANI Pharmaceuticals by 4,636.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock worth $34,000 after buying an additional 510 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of ANI Pharmaceuticals by 200.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company's stock worth $39,000 after buying an additional 400 shares in the last quarter. State of Wyoming purchased a new stake in shares of ANI Pharmaceuticals in the second quarter worth $50,000. Finally, National Bank of Canada FI purchased a new stake in shares of ANI Pharmaceuticals in the first quarter worth $79,000. Hedge funds and other institutional investors own 76.05% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ANIP. Zacks Research upgraded ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Truist Financial upped their price objective on ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, August 11th. HC Wainwright reiterated a "buy" rating and issued a $93.00 price objective (up previously from $84.00) on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Wall Street Zen upgraded ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Finally, Piper Sandler restated an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $84.75.

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.