ANI Pharmaceuticals (NASDAQ:ANIP) Hits New 12-Month High - Still a Buy?

Key Points

• ANI Pharmaceuticals' stock has reached a new 52-week high, trading at $91.15, with analysts setting updated price targets ranging from $77.00 to $94.00.
• The company reported a strong quarterly earnings performance, with earnings per share of $1.80, exceeding estimates, and revenue growth of 53.2% year-over-year.
• Insider selling occurred, with COO Muthusamy Shanmugam and SVP Chad Gassert offloading significant shares, although 76.05% of the stock is still held by institutional investors.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $91.15 and last traded at $90.12, with a volume of 706664 shares traded. The stock had previously closed at $89.71.

Analysts Set New Price Targets

A number of research analysts have commented on ANIP shares. Truist Financial upped their price target on ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. HC Wainwright restated a "buy" rating and set a $93.00 price target (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 price target on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Wall Street Zen raised ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Finally, Guggenheim reaffirmed a "buy" rating and set a $86.00 price objective on shares of ANI Pharmaceuticals in a research report on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $84.75.

ANI Pharmaceuticals Trading Down 1.2%

The company has a fifty day simple moving average of $70.63 and a two-hundred day simple moving average of $65.99. The company has a current ratio of 2.54, a quick ratio of 1.96 and a debt-to-equity ratio of 1.39. The company has a market cap of $1.95 billion, a PE ratio of -117.03 and a beta of 0.61.

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

Insider Transactions at ANI Pharmaceuticals

In related news, Director Jeanne Thoma sold 21,540 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $89.15, for a total value of $1,920,291.00. Following the transaction, the director owned 23,405 shares of the company's stock, valued at $2,086,555.75. This represents a 47.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Stephen P. Carey sold 50,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $86.07, for a total value of $4,303,500.00. Following the completion of the transaction, the chief financial officer directly owned 180,863 shares in the company, valued at $15,566,878.41. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 401,247 shares of company stock valued at $35,300,435 over the last ninety days. Company insiders own 12.70% of the company's stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new position in ANI Pharmaceuticals in the first quarter valued at $28,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of 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 during the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of ANI Pharmaceuticals by 200.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company's stock valued at $39,000 after purchasing an additional 400 shares during the period. State of Wyoming acquired a new stake in shares of ANI Pharmaceuticals in the 2nd quarter valued at about $50,000. Finally, National Bank of Canada FI acquired a new stake in shares of ANI Pharmaceuticals in the 1st quarter valued at about $79,000. Hedge funds and other institutional investors own 76.05% of the company's stock.

About ANI Pharmaceuticals

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.