ANI Pharmaceuticals (NASDAQ:ANIP) Sets New 1-Year High on Analyst Upgrade

Key Points

• ANI Pharmaceuticals reached a new 52-week high of $96.66 following an analyst upgrade from Guggenheim, raising the price target from $86.00 to $114.00.
• Multiple analysts have increased their ratings and price targets for ANI Pharmaceuticals, with an average target price now sitting at $88.25 and two analysts rating it a "Strong Buy."
• Insider transactions revealed significant sales, with one director selling over 7,000 shares, reducing his position by 24.35%.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares hit a new 52-week high on Tuesday after Guggenheim raised their price target on the stock from $86.00 to $114.00. Guggenheim currently has a buy rating on the stock. ANI Pharmaceuticals traded as high as $96.66 and last traded at $96.30, with a volume of 66131 shares changing hands. The stock had previously closed at $95.20.

A number of other research firms have also recently weighed in on ANIP. HC Wainwright restated a "buy" rating and issued a $93.00 price target (up previously from $84.00) on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Truist Financial upped their price target on ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Zacks Research upgraded ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Wall Street Zen upgraded ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ANI Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $88.25.

Insider Transactions at ANI Pharmaceuticals

In related news, Director Antonio R. Pera sold 7,292 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $94.94, for a total value of $692,302.48. Following the sale, the director owned 22,660 shares of the company's stock, valued at approximately $2,151,340.40. This represents a 24.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew J. Leonard sold 2,528 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $90.62, for a total value of $229,087.36. Following the completion of the sale, the director directly owned 6,864 shares in the company, valued at approximately $622,015.68. The trade was a 26.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,830 shares of company stock worth $36,382,434 in the last quarter. Insiders own 11.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ANIP. Millennium Management LLC lifted its stake in shares of ANI Pharmaceuticals by 89.3% during the 4th quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company's stock worth $55,437,000 after purchasing an additional 473,097 shares during the period. Rubric Capital Management LP lifted its stake in shares of ANI Pharmaceuticals by 354.7% during the 2nd quarter. Rubric Capital Management LP now owns 257,669 shares of the specialty pharmaceutical company's stock worth $16,813,000 after purchasing an additional 200,998 shares during the period. Aberdeen Group plc lifted its stake in shares of ANI Pharmaceuticals by 76.1% during the 1st quarter. Aberdeen Group plc now owns 419,099 shares of the specialty pharmaceutical company's stock worth $28,059,000 after purchasing an additional 181,134 shares during the period. Woodline Partners LP purchased a new position in shares of ANI Pharmaceuticals during the 1st quarter worth $11,144,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of ANI Pharmaceuticals by 3,156.3% during 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. Hedge funds and other institutional investors own 76.05% of the company's stock.

ANI Pharmaceuticals Trading Up 1.2%

The company has a market cap of $2.09 billion, a PE ratio of -125.14 and a beta of 0.63. The business has a 50 day simple moving average of $76.86 and a two-hundred day simple moving average of $68.62. The company has a current ratio of 2.54, a quick ratio of 1.96 and a debt-to-equity ratio of 1.39.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. ANI Pharmaceuticals had a positive return on equity of 25.03% and a negative net margin of 1.37%.The company had revenue of $211.37 million for the quarter, compared to analyst estimates of $187.18 million. During the same quarter in the prior year, the company posted $1.02 EPS. The business's revenue for the quarter was up 53.2% compared to the same quarter last year. On average, analysts forecast that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current fiscal year.

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.

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