ANI Pharmaceuticals (NASDAQ:ANIP) Downgraded by StockNews.com to Sell

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

ANIP has been the topic of several other research reports. Jefferies Financial Group initiated coverage on shares of ANI Pharmaceuticals in a research note on Friday, March 14th. They issued a "buy" rating and a $80.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Monday, March 17th. JPMorgan Chase & Co. began coverage on shares of ANI Pharmaceuticals in a report on Wednesday, March 12th. They issued an "overweight" rating and a $85.00 price objective for the company. Truist Financial increased their price objective on shares of ANI Pharmaceuticals from $62.00 to $65.00 and gave the company a "hold" rating in a report on Monday, April 21st. Finally, Guggenheim reiterated a "buy" rating and issued a $86.00 price objective on shares of ANI Pharmaceuticals in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ANI Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $80.13.

ANI Pharmaceuticals Stock Performance

Shares of NASDAQ:ANIP traded up $0.01 during trading hours on Thursday, hitting $70.76. The stock had a trading volume of 385,836 shares, compared to its average volume of 278,260. The stock's fifty day simple moving average is $64.68 and its 200 day simple moving average is $60.06. ANI Pharmaceuticals has a 1-year low of $52.50 and a 1-year high of $72.57. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -128.65 and a beta of 0.49. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.97 and a current ratio of 2.74.

Insider Buying and Selling

In other ANI Pharmaceuticals news, VP Meredith Cook sold 400 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $63.33, for a total value of $25,332.00. Following the completion of the sale, the vice president now owns 80,545 shares in the company, valued at $5,100,914.85. This represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Krista Davis sold 1,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $60.86, for a total transaction of $60,860.00. Following the completion of the sale, the senior vice president now owns 66,525 shares of the company's stock, valued at approximately $4,048,711.50. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,200 shares of company stock valued at $197,792. Company insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its holdings in shares of ANI Pharmaceuticals by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 12,366 shares of the specialty pharmaceutical company's stock valued at $684,000 after purchasing an additional 310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ANI Pharmaceuticals by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,523 shares of the specialty pharmaceutical company's stock valued at $582,000 after purchasing an additional 364 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of ANI Pharmaceuticals by 10.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,457 shares of the specialty pharmaceutical company's stock valued at $246,000 after purchasing an additional 412 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of ANI Pharmaceuticals by 2.3% during the 4th quarter. Natixis Advisors LLC now owns 18,601 shares of the specialty pharmaceutical company's stock valued at $1,028,000 after purchasing an additional 417 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of ANI Pharmaceuticals by 842.9% during the 4th quarter. US Bancorp DE now owns 594 shares of the specialty pharmaceutical company's stock valued at $33,000 after purchasing an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 76.05% of the company's stock.

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.