Great Lakes Advisors LLC Sells 7,391 Shares of ANI Pharmaceuticals, Inc. $ANIP

Key Points

• Great Lakes Advisors LLC reduced its stake in ANI Pharmaceuticals, Inc. by 10%, now holding 66,836 shares worth approximately $4.5 million.
• Several hedge funds have recently increased their positions in ANI Pharmaceuticals, indicating strong institutional interest, with 76.05% of the stock currently owned by institutional investors.
• Analyst ratings for ANI Pharmaceuticals show a consensus of "Buy" with an average target price of $88.25, following recent price target increases from multiple firms.

Great Lakes Advisors LLC trimmed its stake in shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,836 shares of the specialty pharmaceutical company's stock after selling 7,391 shares during the period. Great Lakes Advisors LLC owned approximately 0.31% of ANI Pharmaceuticals worth $4,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in ANI Pharmaceuticals during the first quarter valued at approximately $28,000. National Bank of Canada FI bought a new position in ANI Pharmaceuticals during the 1st quarter worth about $79,000. 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. Rafferty Asset Management LLC bought a new position in ANI Pharmaceuticals during the 4th quarter worth about $200,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in ANI Pharmaceuticals during the 1st quarter worth about $206,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

ANI Pharmaceuticals Price Performance

NASDAQ:ANIP traded down $1.02 during mid-day trading on Friday, reaching $97.71. 210,857 shares of the stock were exchanged, compared to its average volume of 466,511. The business has a fifty day moving average price of $79.52 and a 200 day moving average price of $69.62. The firm has a market capitalization of $2.12 billion, a PE ratio of -126.89 and a beta of 0.63. ANI Pharmaceuticals, Inc. has a 1-year low of $52.50 and a 1-year high of $99.50. 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 (NASDAQ:ANIP - Get Free Report) last released its earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. The firm had revenue of $211.37 million for the quarter, compared to analyst estimates of $187.18 million. ANI Pharmaceuticals had a positive return on equity of 25.03% and a negative net margin of 1.37%.ANI Pharmaceuticals's revenue was up 53.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 earnings per share. Research analysts expect that ANI Pharmaceuticals, Inc. will post 3.86 earnings per share for the current fiscal year.

Insider Transactions at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, CFO Stephen P. Carey sold 50,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was 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 approximately $15,566,878.41. This trade represents a 21.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $1,739,400.00. Following the sale, the senior vice president owned 173,226 shares of the company's stock, valued at approximately $15,065,465.22. This represents a 10.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 412,430 shares of company stock worth $36,357,886 in the last three months. Insiders own 11.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ANIP shares. HC Wainwright reiterated a "buy" rating and set a $93.00 target price (up from $84.00) on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Piper Sandler reiterated an "overweight" rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Guggenheim lifted their price objective on shares of ANI Pharmaceuticals from $86.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday. 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. Finally, Truist Financial lifted their price objective on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $88.25.

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.