ANI Pharmaceuticals (NASDAQ:ANIP) Sets New 1-Year High - Time to Buy?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $70.06 and last traded at $70.09, with a volume of 39352 shares changing hands. The stock had previously closed at $69.55.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group started coverage on ANI Pharmaceuticals in a report on Friday, March 14th. They set a "buy" rating and a $80.00 price objective for the company. Truist Financial lifted their price target on ANI Pharmaceuticals from $62.00 to $65.00 and gave the company a "hold" rating in a report on Monday. JPMorgan Chase & Co. started coverage on ANI Pharmaceuticals in a report on Wednesday, March 12th. They issued an "overweight" rating and a $85.00 price objective on the stock. HC Wainwright reiterated a "buy" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Monday, March 17th. Finally, Guggenheim restated a "buy" rating and set a $86.00 price target on shares of ANI Pharmaceuticals in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $80.13.

ANI Pharmaceuticals Trading Down 1.7 %

The company's fifty day moving average is $63.43 and its 200-day moving average is $59.53. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $1.48 billion, a P/E ratio of -123.64 and a beta of 0.49.

Insider Buying and Selling

In other ANI Pharmaceuticals news, SVP Krista Davis sold 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $60.86, for a total value of $60,860.00. Following the completion of the sale, the senior vice president now directly owns 66,525 shares of the company's stock, valued at $4,048,711.50. This represents a 1.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Meredith Cook sold 400 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $63.33, for a total transaction of $25,332.00. Following the transaction, the vice president now owns 80,545 shares in the company, valued at approximately $5,100,914.85. The trade was a 0.49 % 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. Insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

Several hedge funds have recently made changes to their positions in ANIP. Sowell Financial Services LLC acquired a new position in ANI Pharmaceuticals in the 1st quarter valued at approximately $352,000. GAMMA Investing LLC raised its stake in shares of ANI Pharmaceuticals by 163.8% in the first quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock valued at $95,000 after purchasing an additional 881 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in ANI Pharmaceuticals by 41.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,899 shares of the specialty pharmaceutical company's stock worth $2,648,000 after purchasing an additional 13,948 shares during the period. Stonepine Capital Management LLC acquired a new stake in ANI Pharmaceuticals during the fourth quarter worth $1,128,000. Finally, Rafferty Asset Management LLC bought a new stake in ANI Pharmaceuticals in the 4th quarter valued at $200,000. Institutional investors own 76.05% of the company's stock.

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.