ANI Pharmaceuticals (NASDAQ:ANIP) Sets New 1-Year High on Better-Than-Expected Earnings

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report)'s share price hit a new 52-week high on Saturday following a better than expected earnings announcement. The company traded as high as $77.00 and last traded at $66.28, with a volume of 756687 shares trading hands. The stock had previously closed at $71.53.

The specialty pharmaceutical company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.33. The firm had revenue of $197.12 million during the quarter, compared to analyst estimates of $179.75 million. ANI Pharmaceuticals had a positive return on equity of 15.87% and a negative net margin of 1.28%. ANI Pharmaceuticals's quarterly revenue was up 43.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. began coverage on ANI Pharmaceuticals in a research note on Wednesday, March 12th. They set an "overweight" rating and a $85.00 price target for the company. Truist Financial raised their target price on ANI Pharmaceuticals from $62.00 to $65.00 and gave the company a "hold" rating in a research note on Monday, April 21st. HC Wainwright reiterated a "buy" rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, March 17th. Jefferies Financial Group assumed coverage on shares of ANI Pharmaceuticals in a report on Friday, March 14th. They issued a "buy" rating and a $80.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating and issued a $86.00 price objective on shares of ANI Pharmaceuticals in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.13.

Insider Activity

In other ANI Pharmaceuticals news, VP Meredith Cook sold 400 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $68.96, for a total transaction of $27,584.00. Following the sale, the vice president now directly owns 80,145 shares of the company's stock, valued at $5,526,799.20. The trade was a 0.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Krista Davis sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $60.86, for a total value of $60,860.00. Following the completion of the transaction, the senior vice president now owns 66,525 shares of the company's stock, valued at approximately $4,048,711.50. This represents a 1.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,200 shares of company stock valued at $197,792 in the last ninety days. 11.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ANIP. Millennium Management LLC lifted its holdings in 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 valued at $55,437,000 after purchasing an additional 473,097 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of ANI Pharmaceuticals by 17.8% during the first quarter. Global Alpha Capital Management Ltd. now owns 735,590 shares of the specialty pharmaceutical company's stock worth $49,248,000 after buying an additional 111,040 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ANI Pharmaceuticals by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company's stock worth $37,906,000 after purchasing an additional 30,420 shares during the last quarter. Deep Track Capital LP lifted its holdings in shares of 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 purchasing an additional 144,214 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of ANI Pharmaceuticals by 2.2% in the fourth quarter. William Blair Investment Management LLC now owns 485,268 shares of the specialty pharmaceutical company's stock valued at $26,826,000 after buying an additional 10,440 shares during the period. Institutional investors own 76.05% of the company's stock.

ANI Pharmaceuticals Stock Down 6.0%

The stock's 50-day moving average price is $66.91 and its 200-day moving average price is $60.73. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -113.27 and a beta of 0.56.

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.