Millennium Management LLC Cuts Stake in ANI Pharmaceuticals, Inc. $ANIP

Key Points

• Millennium Management LLC reduced its stake in ANI Pharmaceuticals by 18.4%, selling 184,508 shares and now holding 818,341 shares worth approximately $54.78 million.
• Insider trading activity includes Antonio R. Pera selling 7,292 shares and Muthusamy Shanmugam selling 52,988 shares, leading to significant decreases in their ownership percentages.
• Various analysts have upgraded ANI Pharmaceuticals, with Zacks upgrading it to a "strong-buy" rating and a consensus price target of $84.75 from multiple ratings agencies.

Millennium Management LLC cut its stake in shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Free Report) by 18.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 818,341 shares of the specialty pharmaceutical company's stock after selling 184,508 shares during the quarter. Millennium Management LLC owned approximately 3.76% of ANI Pharmaceuticals worth $54,788,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of 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 valued at $10,565,000 after acquiring an additional 64,021 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in ANI Pharmaceuticals by 53.3% in the 1st 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 during the period. Invesco Ltd. boosted its stake in ANI Pharmaceuticals by 1.0% in the 1st 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 during the period. GAMMA Investing LLC boosted its stake in ANI Pharmaceuticals by 163.8% in the 1st 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in ANI Pharmaceuticals by 0.9% in the 1st 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 during the period. 76.05% of the stock is currently owned by institutional investors.

ANI Pharmaceuticals Trading Down 1.0%

NASDAQ:ANIP traded down $1.02 during midday trading on Friday, hitting $97.71. 210,857 shares of the company traded hands, compared to its average volume of 466,511. The firm's fifty day moving average is $79.52 and its 200-day moving average is $69.62. ANI Pharmaceuticals, Inc. has a 12-month low of $52.50 and a 12-month high of $99.50. The firm has a market capitalization of $2.12 billion, a P/E 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.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last released its quarterly 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. ANI Pharmaceuticals had a positive return on equity of 25.03% and a negative net margin of 1.37%.The company had revenue of $211.37 million for the quarter, compared to analyst estimates of $187.18 million. During the same quarter in the prior year, the firm posted $1.02 EPS. ANI Pharmaceuticals's quarterly revenue was up 53.2% compared to the same quarter last year. On average, sell-side analysts predict that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current year.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, Director Matthew J. Leonard sold 2,528 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $90.62, for a total value of $229,087.36. Following the sale, the director owned 6,864 shares in the company, valued at $622,015.68. This trade represents a 26.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeanne Thoma sold 21,540 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $89.15, for a total value of $1,920,291.00. Following the completion of the sale, the director owned 23,405 shares in the company, valued at approximately $2,086,555.75. The trade was a 47.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 412,430 shares of company stock valued at $36,357,886. Insiders own 11.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ANIP. Truist Financial upped 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. 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 reiterated a "buy" rating and set a $93.00 target price (up from $84.00) on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Finally, Guggenheim increased their target price on ANI Pharmaceuticals from $86.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $88.25.

ANI Pharmaceuticals 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.