ANI Pharmaceuticals (NASDAQ:ANIP) Stock Passes Below 200-Day Moving Average - Here's Why

Key Points

• ANI shares fell below their 200-day moving average of $81.63, trading as low as $76.84 and last at $78.64 on volume of about 204,200 shares, signaling a potential technical weakness.
• Wall Street sentiment is broadly positive with a consensus "Moderate Buy" and an average price target of $107.33; notable upgrades include Guggenheim raising its target to $124.
• Company insiders have been net sellers recently — including the CFO and SVP — with insiders selling 27,860 shares (~$2.11M) in the last quarter while insiders still own 11.10% and institutions hold about 76.05% of the stock.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $81.63 and traded as low as $76.84. ANI Pharmaceuticals shares last traded at $78.64, with a volume of 204,207 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ANIP shares. Guggenheim upped their target price on shares of ANI Pharmaceuticals from $115.00 to $124.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Wall Street Zen cut shares of ANI Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 14th. Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of ANI Pharmaceuticals in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.33.

ANI Pharmaceuticals Trading Up 0.7%

The company has a market cap of $1.76 billion, a price-to-earnings ratio of 23.40 and a beta of 0.44. The company has a debt-to-equity ratio of 1.11, a quick ratio of 2.19 and a current ratio of 2.71. The business's 50 day moving average price is $76.29 and its 200-day moving average price is $81.63.

Insider Buying and Selling

In related news, CFO Stephen P. Carey sold 7,312 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $75.50, for a total transaction of $552,056.00. Following the completion of the sale, the chief financial officer owned 185,543 shares in the company, valued at $14,008,496.50. This trade represents a 3.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Krista Davis sold 2,084 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $77.53, for a total transaction of $161,572.52. Following the sale, the senior vice president owned 50,993 shares of the company's stock, valued at $3,953,487.29. This trade represents a 3.93% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 27,860 shares of company stock worth $2,111,581. Insiders own 11.10% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Maryland State Retirement & Pension System boosted its stake in shares of ANI Pharmaceuticals by 5.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 2,613 shares of the specialty pharmaceutical company's stock valued at $206,000 after purchasing an additional 134 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of ANI Pharmaceuticals by 1.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 8,538 shares of the specialty pharmaceutical company's stock valued at $782,000 after purchasing an additional 145 shares during the last quarter. Amalgamated Bank boosted its stake in shares of ANI Pharmaceuticals by 3.1% in the 3rd quarter. Amalgamated Bank now owns 5,066 shares of the specialty pharmaceutical company's stock valued at $464,000 after purchasing an additional 154 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of ANI Pharmaceuticals by 1.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 19,408 shares of the specialty pharmaceutical company's stock valued at $1,267,000 after purchasing an additional 198 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of ANI Pharmaceuticals by 5.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,086 shares of the specialty pharmaceutical company's stock valued at $323,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 76.05% of the company's stock.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc is a United States–based specialty pharmaceutical company focused on the development, manufacturing and commercialization of generic and branded prescription drugs. The company operates as an end-to-end provider, offering services that range from active pharmaceutical ingredient (API) production and formulation development to finished dosage form manufacturing and packaging.

ANI's product portfolio encompasses injectable and oral therapies across several therapeutic areas, including endocrinology, oncology, pain management and respiratory care.

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