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

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $73.16 and last traded at $72.95, with a volume of 322989 shares changing hands. The stock had previously closed at $70.69.

Analyst Ratings Changes

A number of brokerages have recently commented on ANIP. HC Wainwright reissued a "buy" rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research report on Monday, March 17th. Truist Financial boosted their price target on shares of ANI Pharmaceuticals from $62.00 to $65.00 and gave the stock a "hold" rating in a report on Monday, April 21st. StockNews.com lowered shares of ANI Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Jefferies Financial Group began coverage on shares of ANI Pharmaceuticals in a research note on Friday, March 14th. They set a "buy" rating and a $80.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on ANI Pharmaceuticals in a report on Wednesday, March 12th. They issued an "overweight" rating and a $85.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.13.

ANI Pharmaceuticals Price Performance

The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -130.18 and a beta of 0.56. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.74 and a quick ratio of 1.97. The stock has a 50-day moving average price of $66.45 and a 200 day moving average price of $60.55.

Insider Activity

In other ANI Pharmaceuticals news, VP Meredith Cook sold 400 shares of ANI Pharmaceuticals stock in a transaction on Monday, April 14th. The shares were sold at an average price of $68.96, for a total value of $27,584.00. Following the transaction, the vice president now directly owns 80,145 shares in the company, valued at approximately $5,526,799.20. The trade was a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Krista Davis sold 1,000 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $60.86, for a total transaction of $60,860.00. Following the sale, the senior vice president now owns 66,525 shares of the company's stock, valued at $4,048,711.50. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,200 shares of company stock valued at $197,792. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of ANI Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of ANI Pharmaceuticals by 1,681.2% during the third quarter. Barclays PLC now owns 143,033 shares of the specialty pharmaceutical company's stock worth $8,534,000 after purchasing an additional 135,003 shares during the last quarter. Franklin Resources Inc. raised its position in ANI Pharmaceuticals by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 12,057 shares of the specialty pharmaceutical company's stock worth $705,000 after buying an additional 691 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of ANI Pharmaceuticals by 67.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 311,617 shares of the specialty pharmaceutical company's stock worth $17,226,000 after acquiring an additional 125,438 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ANI Pharmaceuticals in the fourth quarter valued at about $544,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of ANI Pharmaceuticals by 2.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 12,366 shares of the specialty pharmaceutical company's stock worth $684,000 after acquiring an additional 310 shares during the period. 76.05% of the stock is owned by institutional investors and hedge funds.

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.