ANI Pharmaceuticals (NASDAQ:ANIP) Reaches New 1-Year High - What's Next?

Key Points

• ANI Pharmaceuticals reached a new 52-week high of $95.12 on Tuesday, following a notable increase in stock performance and trading volume of 22,869 shares.
• Wall Street analysts have shown strong support for ANI Pharmaceuticals, with two firms upgrading the stock to "strong-buy" and a consensus rating of "buy" along with an average price target of $84.75.
• The company reported $1.80 earnings per share for the last quarter, exceeding analyst expectations and demonstrating a 53.2% revenue increase compared to the same period last year.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $94.52 and last traded at $95.12, with a volume of 22869 shares traded. The stock had previously closed at $93.50.

Analysts Set New Price Targets

ANIP has been the subject of several research analyst reports. Wall Street Zen upgraded ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Piper Sandler restated an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. 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 report on Friday, August 8th. Guggenheim restated a "buy" rating and issued a $86.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, May 12th. Finally, Zacks Research raised shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $84.75.

ANI Pharmaceuticals Price Performance

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 50 day moving average price of $76.26 and a 200 day moving average price of $68.30. The company has a market capitalization of $2.07 billion, a P/E ratio of -123.83 and a beta of 0.63.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last issued its earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $187.18 million. During the same period in the previous year, the company posted $1.02 EPS. The firm's revenue for the quarter was up 53.2% compared to the same quarter last year. On average, equities analysts predict that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current fiscal year.

Insider Activity at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, CEO Nikhil Lalwani sold 56,960 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 411,219 shares in the company, valued at $35,336,048.67. This represents a 12.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Muthusamy Shanmugam sold 52,990 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $87.15, for a total value of $4,618,078.50. Following the sale, the chief operating officer owned 531,920 shares of the company's stock, valued at $46,356,828. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,830 shares of company stock valued at $36,382,434 in the last 90 days. Corporate insiders own 11.10% of the company's stock.

Institutional Trading of ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of ANI Pharmaceuticals by 89.3% during the fourth quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company's stock worth $55,437,000 after buying an additional 473,097 shares during the last quarter. Global Alpha Capital Management Ltd. raised its stake in shares of ANI Pharmaceuticals by 17.2% during the second quarter. Global Alpha Capital Management Ltd. now owns 862,090 shares of the specialty pharmaceutical company's stock valued at $56,251,000 after acquiring an additional 126,500 shares during the last quarter. Aberdeen Group plc raised its stake in shares of ANI Pharmaceuticals by 76.1% during 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 during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of ANI Pharmaceuticals by 14.6% in the 4th quarter. Ameriprise Financial Inc. now owns 271,805 shares of the specialty pharmaceutical company's stock valued at $15,025,000 after purchasing an additional 34,586 shares during the last quarter. Finally, Rubric Capital Management LP grew its holdings in 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 acquiring an additional 200,998 shares during the period. 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.