ANI Pharmaceuticals (NASDAQ:ANIP) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• ANI Pharmaceuticals has been upgraded to a "strong-buy" rating by Zacks Research, reflecting positive sentiment among analysts regarding the company's future prospects.
• Recent earnings results revealed that ANI Pharmaceuticals achieved $1.80 earnings per share for the quarter, exceeding analysts' expectations and showing a 53.2% increase in revenue compared to the previous year.
• Institutional investors hold a significant share of ANI Pharmaceuticals, with 76.05% of the stock owned by hedge funds and other institutions, indicating strong investor confidence in the company.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also issued reports on ANIP. HC Wainwright reissued a "buy" rating and set a $93.00 price target (up previously from $84.00) on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Truist Financial boosted their target price on ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a "hold" rating in a report on Monday, August 11th. Wall Street Zen raised ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Guggenheim reissued a "buy" rating and issued a $86.00 price objective on shares of ANI Pharmaceuticals in a research note on Monday, May 12th. Finally, Piper Sandler restated an "overweight" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $84.75.

ANI Pharmaceuticals Stock Performance

Shares of ANIP stock traded down $0.01 during trading hours on Thursday, hitting $91.88. The stock had a trading volume of 241,668 shares, compared to its average volume of 373,165. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.54 and a quick ratio of 1.96. The firm has a market capitalization of $1.99 billion, a PE ratio of -119.32 and a beta of 0.61. The stock's 50 day moving average is $71.72 and its 200 day moving average is $66.38. ANI Pharmaceuticals has a twelve month low of $52.50 and a twelve month high of $92.65.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. The firm had revenue of $211.37 million during 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%. ANI Pharmaceuticals's quarterly revenue was up 53.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 EPS. As a group, research analysts forecast that ANI Pharmaceuticals will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $86.97, for a total transaction of $1,739,400.00. Following the completion of the transaction, the senior vice president owned 173,226 shares in the company, valued at approximately $15,065,465.22. The trade was a 10.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen P. Carey sold 50,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $86.07, for a total transaction of $4,303,500.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 405,538 shares of company stock valued at $35,690,131 in the last 90 days. Insiders own 12.70% of the company's stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ANIP. Advisors Asset Management Inc. purchased a new position in ANI Pharmaceuticals during the first quarter worth $28,000. Caitong International Asset Management Co. Ltd increased its position in ANI Pharmaceuticals by 4,636.4% during the 2nd 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 in the last quarter. Newbridge Financial Services Group Inc. increased its position in ANI Pharmaceuticals by 200.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company's stock worth $39,000 after purchasing an additional 400 shares in the last quarter. State of Wyoming acquired a new position in ANI Pharmaceuticals in the 2nd quarter valued at about $50,000. Finally, National Bank of Canada FI purchased a new position in ANI Pharmaceuticals in the 1st quarter valued at about $79,000. 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.