Comerica Bank Sells 7,280 Shares of ANI Pharmaceuticals, Inc. $ANIP

Key Points

• Comerica Bank reduced its stake in ANI Pharmaceuticals by 38.7%, owning 11,550 shares valued at $773,000 following the sale of 7,280 shares during the first quarter.
• ANI Pharmaceuticals reported a quarterly EPS of $1.80, exceeding estimates by $0.38, alongside a substantial year-over-year revenue increase of 53.2% to $211.37 million.
• Analysts have upgraded ANI Pharmaceuticals' stock rating, with several firms issuing strong-buy ratings and setting price targets ranging from $86.00 to $94.00.

Comerica Bank trimmed its holdings in shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,550 shares of the specialty pharmaceutical company's stock after selling 7,280 shares during the period. Comerica Bank owned approximately 0.05% of ANI Pharmaceuticals worth $773,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Stonepine Capital Management LLC boosted its stake in ANI Pharmaceuticals by 135.3% during the 1st quarter. Stonepine Capital Management LLC now owns 48,000 shares of the specialty pharmaceutical company's stock valued at $3,214,000 after purchasing an additional 27,600 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in ANI Pharmaceuticals during the 1st quarter valued at $448,000. Jump Financial LLC purchased a new stake in ANI Pharmaceuticals during the 1st quarter valued at $1,555,000. Hotchkis & Wiley Capital Management LLC boosted its stake in ANI Pharmaceuticals by 89.9% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 108,600 shares of the specialty pharmaceutical company's stock valued at $7,271,000 after purchasing an additional 51,420 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP boosted its stake in ANI Pharmaceuticals by 37,674.1% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 10,199 shares of the specialty pharmaceutical company's stock valued at $683,000 after purchasing an additional 10,172 shares during the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

ANI Pharmaceuticals Stock Performance

NASDAQ ANIP traded down $1.02 on Friday, hitting $97.71. 210,857 shares of the company traded hands, compared to its average volume of 466,511. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -126.89 and a beta of 0.63. 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 business's 50 day moving average price is $79.52 and its 200-day moving average price is $69.62. ANI Pharmaceuticals, Inc. has a 52-week low of $52.50 and a 52-week high of $99.50.

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 for the quarter, beating the consensus estimate of $1.42 by $0.38. The company had revenue of $211.37 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 53.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. Equities analysts expect that ANI Pharmaceuticals, Inc. will post 3.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ANIP. Zacks Research upgraded ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Piper Sandler restated an "overweight" rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. HC Wainwright restated a "buy" rating and issued a $93.00 price target (up from $84.00) on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Finally, Truist Financial raised their price target on 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 issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $88.25.

Insider Activity at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $86.97, for a total transaction of $1,739,400.00. Following the sale, the senior vice president directly owned 173,226 shares of the company's stock, valued at $15,065,465.22. This trade represents a 10.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Muthusamy Shanmugam sold 52,990 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $87.15, for a total value of $4,618,078.50. Following the sale, the chief operating officer directly owned 531,920 shares in the company, valued at approximately $46,356,828. This represents a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 412,430 shares of company stock valued at $36,357,886 in the last ninety days. Corporate insiders own 11.10% of the company's stock.

About ANI Pharmaceuticals

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.