Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $81.37 and last traded at $80.64, with a volume of 421240 shares traded. The stock had previously closed at $69.01.
The specialty pharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.38. The business had revenue of $211.37 million for the quarter, compared to analyst estimates of $187.18 million. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The firm's revenue for the quarter was up 53.2% on a year-over-year basis. During the same quarter last year, the business posted $1.02 EPS.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. HC Wainwright increased their price objective on shares of ANI Pharmaceuticals from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday. Guggenheim reiterated a "buy" rating and issued a $86.00 price target on shares of ANI Pharmaceuticals in a research note on Monday, May 12th. Truist Financial raised their price objective on ANI Pharmaceuticals from $62.00 to $65.00 and gave the company a "hold" rating in a report on Monday, April 21st. Wall Street Zen cut ANI Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.25.
Read Our Latest Stock Analysis on ANIP
Insider Activity
In related news, insider Christopher Mutz sold 4,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.45, for a total transaction of $241,800.00. Following the transaction, the insider directly owned 107,317 shares of the company's stock, valued at $6,487,312.65. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ori Gutwerg sold 881 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $60.07, for a total transaction of $52,921.67. Following the transaction, the senior vice president owned 89,897 shares in the company, valued at $5,400,112.79. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $345,222 in the last quarter. 12.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On ANI Pharmaceuticals
Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in ANI Pharmaceuticals by 89.3% in the 4th quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company's stock valued at $55,437,000 after purchasing an additional 473,097 shares during the period. Aberdeen Group plc grew its holdings in shares of ANI Pharmaceuticals by 76.1% in the first quarter. Aberdeen Group plc now owns 419,099 shares of the specialty pharmaceutical company's stock valued at $28,059,000 after acquiring an additional 181,134 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of ANI Pharmaceuticals during the 1st quarter valued at $11,144,000. Deep Track Capital LP increased its holdings in ANI Pharmaceuticals by 28.6% during the fourth quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company's stock worth $35,879,000 after buying an additional 144,214 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of ANI Pharmaceuticals by 3,156.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 147,380 shares of the specialty pharmaceutical company's stock worth $9,617,000 after purchasing an additional 142,854 shares during the period. Institutional investors and hedge funds own 76.05% of the company's stock.
ANI Pharmaceuticals Price Performance
The company has a market cap of $1.76 billion, a P/E ratio of -105.82 and a beta of 0.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The firm has a 50 day moving average price of $65.19 and a two-hundred day moving average price of $63.90.
About ANI Pharmaceuticals
(
Get Free Report)
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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