ANI Pharmaceuticals (NASDAQ:ANIP) Stock Passes Above 50 Day Moving Average - Time to Sell?

Key Points

• ANI Pharmaceuticals' stock has recently crossed above its 50-day moving average of $88.46, reaching a trading high of $92.47.
• Analysts have upgraded their outlook on ANI Pharmaceuticals, with a recent strong-buy rating and an increased price target from $93.00 to $121.00.
• The company reported a 53.2% revenue increase year-over-year, posting $211.37 million for the quarter, exceeding analysts' expectations.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $88.46 and traded as high as $92.47. ANI Pharmaceuticals shares last traded at $92.06, with a volume of 346,558 shares trading hands.

Wall Street Analyst Weigh In

ANIP has been the topic of a number of research reports. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. HC Wainwright lifted their price target on shares of ANI Pharmaceuticals from $93.00 to $121.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Truist Financial boosted their price objective on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Piper Sandler restated an "overweight" rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Finally, Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, ANI Pharmaceuticals presently has an average rating of "Buy" and an average target price of $97.29.

ANI Pharmaceuticals Stock Up 2.7%

The company has a market capitalization of $2.00 billion, a PE ratio of -119.56 and a beta of 0.58. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The company's 50-day moving average is $88.46 and its 200 day moving average is $73.42.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last issued its earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $211.37 million during the quarter, compared to analysts' expectations of $187.18 million. During the same period in the previous year, the company earned $1.02 earnings per share. The business's revenue for the quarter was up 53.2% compared to the same quarter last year. As a group, analysts anticipate that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current year.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 52,988 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $90.44, for a total transaction of $4,792,234.72. Following the transaction, the chief operating officer owned 431,920 shares in the company, valued at approximately $39,062,844.80. This represents a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Antonio R. Pera sold 7,292 shares of ANI Pharmaceuticals stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $94.94, for a total transaction of $692,302.48. Following the completion of the sale, the director owned 22,660 shares of the company's stock, valued at $2,151,340.40. This represents a 24.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 413,830 shares of company stock worth $36,495,294. 12.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ANIP. Advisors Asset Management Inc. purchased a new stake in ANI Pharmaceuticals during the 1st quarter valued at $28,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of ANI Pharmaceuticals by 4,636.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock worth $34,000 after acquiring an additional 510 shares during the period. Newbridge Financial Services Group Inc. increased its position in ANI Pharmaceuticals by 200.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company's stock valued at $39,000 after acquiring an additional 400 shares during the last quarter. State of Wyoming bought a new position in ANI Pharmaceuticals in the second quarter valued at about $50,000. Finally, National Bank of Canada FI purchased a new position in ANI Pharmaceuticals in the first quarter worth about $79,000. Institutional investors 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.

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