ANI Pharmaceuticals (NASDAQ:ANIP) Downgraded to "Sell (D+)" Rating by Weiss Ratings

Key Points

• ANI Pharmaceuticals has been downgraded by Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating, indicating a negative outlook from analysts.
• Despite the downgrade, other analysts have set target prices ranging from $77.00 to $121.00, with a consensus rating of "Moderate Buy" and an average price target of $97.29.
• Insider trading activity shows significant sales, with SVP Chad Gassert and Director Jeanne Thoma selling a combined total of over $3.6 million in shares, signaling potential concerns regarding the company's stock performance.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) was downgraded by stock analysts at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a report released on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Truist Financial upped their price objective on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. increased their target price on ANI Pharmaceuticals from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. HC Wainwright increased their target price on ANI Pharmaceuticals from $93.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Piper Sandler reiterated an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Finally, Guggenheim increased their target price on ANI Pharmaceuticals from $86.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.29.

ANI Pharmaceuticals Trading Down 0.0%

Shares of ANIP traded down $0.03 during trading hours on Wednesday, reaching $91.65. The stock had a trading volume of 200,319 shares, compared to its average volume of 371,627. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 1.39. ANI Pharmaceuticals has a 52 week low of $52.50 and a 52 week high of $99.50. The firm has a 50-day moving average of $89.01 and a 200 day moving average of $73.55. The company has a market cap of $1.99 billion, a P/E ratio of -119.02 and a beta of 0.58.

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

Insider Transactions at ANI Pharmaceuticals

In other news, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals 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 sale, the senior vice president directly owned 173,226 shares in the company, valued at approximately $15,065,465.22. The trade was a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeanne Thoma sold 21,540 shares of ANI Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $89.15, for a total transaction of $1,920,291.00. Following the completion of the sale, the director owned 23,405 shares of the company's stock, valued at approximately $2,086,555.75. The trade was a 47.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 413,830 shares of company stock worth $36,495,294. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new position in ANI Pharmaceuticals in the first quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in 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 valued at $34,000 after acquiring an additional 510 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in 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 valued at $39,000 after acquiring an additional 400 shares during the last quarter. State of Wyoming bought a new position in ANI Pharmaceuticals in the second quarter valued at approximately $50,000. Finally, National Bank of Canada FI bought a new position in ANI Pharmaceuticals in the first quarter valued at approximately $79,000. 76.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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