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

Key Points

• ANI Pharmaceuticals (NASDAQ:ANIP) has reached a new **52-week high** of $92.65 during mid-day trading, closing at $90.32 with a trading volume of **351,713 shares**.
• Several analysts have upgraded their ratings on the stock, with **Wall Street Zen** and **Zacks Research** both raising it to a **strong-buy** rating, while the average consensus rating stands at **"Buy"** with a price target of **$84.75**.
• The company reported strong quarterly earnings with **$1.80 EPS**, exceeding estimates, and revenue up **53.2%** year-over-year, indicating healthy financial performance.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $92.65 and last traded at $90.32, with a volume of 351713 shares traded. The stock had previously closed at $91.01.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANIP. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Piper Sandler reissued an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Guggenheim reissued a "buy" rating and set a $86.00 target price on shares of ANI Pharmaceuticals in a research report on Monday, May 12th. Zacks Research raised shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Finally, Truist Financial increased their price target 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. Two equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $84.75.

ANI Pharmaceuticals Trading Up 1.0%

The company has a debt-to-equity ratio of 1.39, a current ratio of 2.54 and a quick ratio of 1.96. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -121.43 and a beta of 0.61. The company's fifty day moving average price is $73.39 and its 200-day moving average price is $67.02.

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

Insider Activity

In other news, COO Muthusamy Shanmugam sold 52,990 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $87.15, for a total transaction of $4,618,078.50. Following the transaction, the chief operating officer owned 531,920 shares in the company, valued at $46,356,828. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $4,894,572.80. Following the completion of the transaction, the chief executive officer owned 411,219 shares in the company, valued at approximately $35,336,048.67. This trade represents a 12.17% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 405,538 shares of company stock valued at $35,690,131. 11.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. acquired a new position in ANI Pharmaceuticals in the 1st quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in ANI Pharmaceuticals by 4,636.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock worth $34,000 after buying an additional 510 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in 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 worth $39,000 after buying an additional 400 shares during the period. State of Wyoming acquired a new position in ANI Pharmaceuticals in the 2nd quarter worth approximately $50,000. Finally, National Bank of Canada FI acquired a new position in ANI Pharmaceuticals in the 1st quarter worth approximately $79,000. Institutional investors and hedge funds 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.