ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for ANI Pharmaceuticals from $95.00 to $115.00, suggesting a potential upside of 20.63% from its previous close.
• Other analysts have also increased their price targets, with estimates ranging from $77.00 to $121.00, and the stock currently holds a consensus average rating of "Buy."
• Recently, significant insider trading occurred, with both the Director and CEO selling large amounts of stock, indicating a 47.93% and 12.17% decrease in their respective holdings.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $95.00 to $115.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the specialty pharmaceutical company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 20.63% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Truist Financial boosted their price target on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a "hold" rating in a report on Monday, August 11th. HC Wainwright increased their price objective on ANI Pharmaceuticals from $93.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Guggenheim lifted their target price on shares of ANI Pharmaceuticals from $86.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Finally, Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, ANI Pharmaceuticals currently has an average rating of "Buy" and an average price target of $97.29.

ANI Pharmaceuticals Stock Down 0.6%

ANI Pharmaceuticals stock opened at $95.33 on Wednesday. The company's 50-day moving average price is $83.95 and its two-hundred day moving average price is $71.54. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -123.80 and a beta of 0.63. The company has a current ratio of 2.54, a quick ratio of 1.96 and a debt-to-equity ratio of 1.39. ANI Pharmaceuticals has a 52 week low of $52.50 and a 52 week high of $99.50.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $211.37 million for the quarter, compared to analysts' expectations of $187.18 million. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The business's revenue was up 53.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS. On average, analysts expect that ANI Pharmaceuticals will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jeanne Thoma sold 21,540 shares of ANI Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $89.15, for a total value of $1,920,291.00. Following the transaction, the director owned 23,405 shares of the company's stock, valued at $2,086,555.75. This trade represents a 47.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikhil Lalwani sold 56,960 shares of ANI Pharmaceuticals stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 directly owned 411,219 shares in the company, valued at approximately $35,336,048.67. This represents a 12.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 413,830 shares of company stock valued at $36,495,294. 12.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ANIP. Advisors Asset Management Inc. bought a new stake in shares of ANI Pharmaceuticals during the first quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 valued at $34,000 after acquiring an additional 510 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of 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 valued at $39,000 after acquiring an additional 400 shares during the last quarter. State of Wyoming bought a new stake in shares of ANI Pharmaceuticals in the 2nd quarter valued at about $50,000. Finally, National Bank of Canada FI bought a new stake in shares of ANI Pharmaceuticals in the 1st quarter valued at about $79,000. 76.05% of the stock is owned by institutional investors.

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.

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