ANI Pharmaceuticals (NASDAQ:ANIP) Sets New 12-Month High - Here's What Happened

Key Points

• ANI Pharmaceuticals shares reached a new 52-week high at $90.23 during trading, closing at $88.74 with substantial trading volume of over 1.24 million shares.
• Analysts have issued revised ratings and price targets, with HC Wainwright raising its price target to $93.00 and Truist Financial adjusting theirs to $77.00, while the average consensus price target sits at $84.75.
• The company reported quarterly earnings of $1.80 EPS, surpassing estimates, along with a revenue of $211.37 million, reflecting a 53.2% increase compared to the same quarter last year.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $90.23 and last traded at $88.74, with a volume of 1245498 shares. The stock had previously closed at $88.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Guggenheim restated a "buy" rating and issued a $86.00 price objective on shares of ANI Pharmaceuticals in a research report on Monday, May 12th. HC Wainwright reissued a "buy" rating and set a $93.00 price objective (up from $84.00) on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Piper Sandler restated an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Truist Financial boosted 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. Finally, Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $84.75.

ANI Pharmaceuticals Stock Performance

The company has a market capitalization of $1.90 billion, a PE ratio of -113.60 and a beta of 0.61. The company has a 50 day moving average of $67.85 and a two-hundred day moving average of $64.86. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.54 and a quick ratio of 1.96.

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, topping the consensus estimate of $1.42 by $0.38. The firm had revenue of $211.37 million for the quarter, compared to the consensus estimate of $187.18 million. ANI Pharmaceuticals had a positive return on equity of 25.03% and a negative net margin of 1.37%. The business's revenue for the quarter was up 53.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 earnings per share. As a group, equities research analysts predict that ANI Pharmaceuticals, Inc. will post 3.86 earnings per share for the current year.

Insider Activity at ANI Pharmaceuticals

In other news, Director Thomas Haughey sold 19,341 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $85.93, for a total value of $1,661,972.13. Following the sale, the director owned 36,521 shares in the company, valued at $3,138,249.53. This represents a 34.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikhil Lalwani sold 56,960 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $85.93, for a total value of $4,894,572.80. Following the transaction, the chief executive officer owned 411,219 shares in the company, valued at $35,336,048.67. This represents a 12.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,349 shares of company stock worth $11,880,691 over the last ninety days. Corporate insiders own 11.10% of the company's stock.

Institutional Trading of ANI Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new stake in ANI Pharmaceuticals in the 1st quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd raised its holdings in ANI Pharmaceuticals by 4,636.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock worth $34,000 after purchasing an additional 510 shares in the last quarter. National Bank of Canada FI purchased a new position in ANI Pharmaceuticals during the 1st quarter worth approximately $79,000. Emerald Advisers LLC grew its holdings in shares of ANI Pharmaceuticals by 414.8% during the 2nd quarter. Emerald Advisers LLC now owns 1,256 shares of the specialty pharmaceutical company's stock valued at $82,000 after acquiring an additional 1,012 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in ANI Pharmaceuticals by 163.8% in the first quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock worth $95,000 after purchasing an additional 881 shares in the last quarter. 76.05% of the stock is owned by hedge funds and other institutional investors.

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.