ANI Pharmaceuticals (NASDAQ:ANIP) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• ANI Pharmaceuticals has received an upgrade from Wall Street Zen, increasing its stock rating from "buy" to "strong-buy."
• The company reported impressive quarterly earnings, with $1.80 earnings per share, surpassing analyst expectations of $1.42, and a 53.2% revenue increase year-over-year.
• Insider selling has occurred recently, with significant transactions from Director Thomas Haughey and CEO Nikhil Lalwani, reducing their ownership percentages by 34.62% and 12.17% respectively.

Wall Street Zen upgraded shares of ANI Pharmaceuticals (NASDAQ:ANIP - Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday.

Other equities analysts also recently issued reports about the stock. Guggenheim restated a "buy" rating and set a $86.00 price objective on shares of ANI Pharmaceuticals in a research note on Monday, May 12th. Truist Financial raised their price target on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Piper Sandler reaffirmed an "overweight" rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and set a $93.00 target price (up previously from $84.00) on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ANI Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $84.75.

ANI Pharmaceuticals Stock Performance

Shares of NASDAQ:ANIP traded down $2.53 during midday trading on Friday, hitting $87.47. The company's stock had a trading volume of 1,063,485 shares, compared to its average volume of 670,738. ANI Pharmaceuticals has a fifty-two week low of $52.50 and a fifty-two week high of $90.23. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -113.60 and a beta of 0.61. The stock's 50 day simple moving average is $67.85 and its 200 day simple moving average is $64.89. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced 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 business had revenue of $211.37 million for the quarter, compared to the consensus estimate of $187.18 million. During the same period in the previous year, the business earned $1.02 EPS. ANI Pharmaceuticals's revenue was up 53.2% compared to the same quarter last year. As a group, research analysts anticipate that ANI Pharmaceuticals will post 3.86 earnings per share for the current year.

Insider Transactions at ANI Pharmaceuticals

In related news, CFO Stephen P. Carey sold 50,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $86.07, for a total value of $4,303,500.00. Following the completion of the transaction, the chief financial officer directly owned 180,863 shares in the company, valued at $15,566,878.41. This trade represents a 21.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ori Gutwerg sold 5,873 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $86.53, for a total transaction of $508,190.69. Following the sale, the senior vice president owned 84,024 shares of the company's stock, valued at approximately $7,270,596.72. This represents a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,349 shares of company stock worth $11,880,691. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in shares of ANI Pharmaceuticals in the first quarter worth $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 purchasing an additional 510 shares during the last quarter. National Bank of Canada FI bought a new position in shares of ANI Pharmaceuticals in the first quarter worth about $79,000. Emerald Advisers LLC grew its holdings in shares of ANI Pharmaceuticals by 414.8% in the second quarter. Emerald Advisers LLC now owns 1,256 shares of the specialty pharmaceutical company's stock worth $82,000 after purchasing an additional 1,012 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in ANI Pharmaceuticals by 163.8% during the 1st quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock worth $95,000 after acquiring an additional 881 shares in the last quarter. Hedge funds and other 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.