ANI Pharmaceuticals (NASDAQ:ANIP) Stock Rating Upgraded by Weiss Ratings

Key Points

• ANI Pharmaceuticals has been upgraded by Weiss Ratings from a "sell" to a "hold" rating, indicating improved confidence among analysts.
• The stock price target for ANI Pharmaceuticals has seen increases from several analysts, with Truist Financial raising it to $90.00 and JPMorgan Chase & Co. to $115.00.
• Insider trading activity includes the sale of approximately 413,830 shares by executives in the last quarter, signaling a potential shift in ownership dynamics.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) was upgraded by stock analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a note issued to investors on Friday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial boosted their target price on shares of ANI Pharmaceuticals from $77.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, October 9th. Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. increased their target price on ANI Pharmaceuticals from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Finally, Piper Sandler reissued an "overweight" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $99.14.

ANI Pharmaceuticals Stock Down 0.7%

Shares of ANIP traded down $0.66 during trading hours on Friday, reaching $94.24. The stock had a trading volume of 260,624 shares, compared to its average volume of 361,983. ANI Pharmaceuticals has a 12 month low of $52.50 and a 12 month high of $99.50. The firm has a 50-day simple moving average of $93.24 and a 200 day simple moving average of $75.54. The company has a current ratio of 2.54, a quick ratio of 1.96 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -122.39 and a beta of 0.58.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last issued its earnings results on Thursday, June 8th. The specialty pharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter. ANI Pharmaceuticals had a positive return on equity of 25.03% and a negative net margin of 1.37%.The firm had revenue of $64.48 million during the quarter. Equities research analysts predict that ANI Pharmaceuticals will post 3.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, CEO Nikhil Lalwani sold 56,960 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 411,219 shares in the company, valued at $35,336,048.67. This represents a 12.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Muthusamy Shanmugam sold 52,990 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $87.15, for a total transaction of $4,618,078.50. Following the sale, the chief operating officer owned 531,920 shares of the company's stock, valued at approximately $46,356,828. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 413,830 shares of company stock valued at $36,505,378 over the last quarter. Insiders own 11.10% of the company's stock.

Institutional Trading of ANI Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ANIP. GAMMA Investing LLC boosted its position in ANI Pharmaceuticals by 163.8% during the first quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock valued at $95,000 after buying an additional 881 shares during the period. Allspring Global Investments Holdings LLC boosted its position in ANI Pharmaceuticals by 53.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,949 shares of the specialty pharmaceutical company's stock valued at $599,000 after buying an additional 3,112 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of ANI Pharmaceuticals during the first quarter worth about $1,805,000. Lisanti Capital Growth LLC boosted its holdings in shares of ANI Pharmaceuticals by 291.8% during the first quarter. Lisanti Capital Growth LLC now owns 105,425 shares of the specialty pharmaceutical company's stock worth $7,058,000 after purchasing an additional 78,515 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of ANI Pharmaceuticals by 68.3% during the first quarter. Principal Financial Group Inc. now owns 157,798 shares of the specialty pharmaceutical company's stock worth $10,565,000 after purchasing an additional 64,021 shares during the period. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

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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