ANI Pharmaceuticals (NASDAQ:ANIP) Sees Strong Trading Volume - Should You Buy?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares saw an uptick in trading volume on Monday . 498,013 shares changed hands during trading, an increase of 81% from the previous session's volume of 274,710 shares.The stock last traded at $69.90 and had previously closed at $69.82.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ANIP. JPMorgan Chase & Co. assumed coverage on shares of ANI Pharmaceuticals in a research note on Wednesday, March 12th. They issued an "overweight" rating and a $85.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Monday, March 17th. Guggenheim reaffirmed a "buy" rating and issued a $86.00 price objective on shares of ANI Pharmaceuticals in a research note on Friday, April 11th. StockNews.com downgraded ANI Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Finally, Truist Financial lifted their price target on ANI Pharmaceuticals from $62.00 to $65.00 and gave the stock a "hold" rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.13.

ANI Pharmaceuticals Stock Performance

The company has a market capitalization of $1.59 billion, a PE ratio of -132.64 and a beta of 0.49. The stock's fifty day simple moving average is $65.61 and its 200-day simple moving average is $60.32. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.97 and a current ratio of 2.74.

Insiders Place Their Bets

In other news, SVP Krista Davis sold 1,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $60.20, for a total transaction of $60,200.00. Following the transaction, the senior vice president now directly owns 68,624 shares in the company, valued at $4,131,164.80. This represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Meredith Cook sold 400 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $68.96, for a total transaction of $27,584.00. Following the transaction, the vice president now directly owns 80,145 shares of the company's stock, valued at $5,526,799.20. This trade represents a 0.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,200 shares of company stock valued at $197,792. Company insiders own 11.10% of the company's stock.

Institutional Trading of ANI Pharmaceuticals

A number of institutional investors have recently modified their holdings of ANIP. Hohimer Wealth Management LLC boosted its position in ANI Pharmaceuticals by 5.2% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,989 shares of the specialty pharmaceutical company's stock worth $334,000 after purchasing an additional 247 shares during the period. Exchange Traded Concepts LLC lifted its position in 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 worth $684,000 after acquiring an additional 310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ANI Pharmaceuticals by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,523 shares of the specialty pharmaceutical company's stock worth $582,000 after acquiring an additional 364 shares during the period. China Universal Asset Management Co. Ltd. grew its position in ANI Pharmaceuticals by 10.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,457 shares of the specialty pharmaceutical company's stock valued at $246,000 after acquiring an additional 412 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of ANI Pharmaceuticals by 2.3% during the fourth quarter. Natixis Advisors LLC now owns 18,601 shares of the specialty pharmaceutical company's stock worth $1,028,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other 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.