Zacks Research Upgrades ANI Pharmaceuticals (NASDAQ:ANIP) to Strong-Buy

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 Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Thursday, August 21st,Zacks.com reports.

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

ANI Pharmaceuticals Price Performance

ANIP traded up $0.30 during midday trading on Thursday, reaching $92.18. 86,878 shares of the company's stock were exchanged, compared to its average volume of 371,696. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -119.70 and a beta of 0.61. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 1.39. ANI Pharmaceuticals has a one year low of $52.50 and a one year high of $92.65. The business has a 50-day simple moving average of $72.27 and a two-hundred day simple moving average of $66.56.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 EPS 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%. The company's revenue for the quarter was up 53.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.02 earnings per share. As a group, research analysts predict that ANI Pharmaceuticals will post 3.86 EPS for the current year.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, Director Jeanne Thoma sold 21,540 shares of ANI Pharmaceuticals stock in a transaction on Monday, August 18th. The shares were sold at an average price of $89.15, for a total transaction of $1,920,291.00. Following the completion of the sale, the director owned 23,405 shares of the company's stock, valued at approximately $2,086,555.75. The trade was a 47.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Krista Davis sold 1,763 shares of ANI Pharmaceuticals stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $91.10, for a total transaction of $160,609.30. Following the sale, the senior vice president directly owned 62,896 shares of the company's stock, valued at $5,729,825.60. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 405,538 shares of company stock valued at $35,690,131 over the last quarter. Company insiders own 11.10% of the company's stock.

Institutional Trading of ANI Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in ANI Pharmaceuticals by 68.3% during the 1st quarter. Principal Financial Group Inc. now owns 157,798 shares of the specialty pharmaceutical company's stock worth $10,565,000 after acquiring an additional 64,021 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of 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 worth $599,000 after purchasing an additional 3,112 shares in the last quarter. Invesco Ltd. boosted its position in shares of ANI Pharmaceuticals by 1.0% during the first quarter. Invesco Ltd. now owns 199,567 shares of the specialty pharmaceutical company's stock worth $13,361,000 after purchasing an additional 2,022 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of ANI Pharmaceuticals by 163.8% during the first quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock worth $95,000 after purchasing an additional 881 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ANI Pharmaceuticals by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 238,377 shares of the specialty pharmaceutical company's stock worth $15,959,000 after purchasing an additional 2,220 shares in the last quarter. Institutional investors and hedge funds 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.