ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) CEO Nikhil Lalwani Sells 56,960 Shares

Key Points

• ANI Pharmaceuticals CEO Nikhil Lalwani sold 56,960 shares of stock, reducing his ownership by 12.17% and totaling approximately $4.89 million.
• The company's stock increased by 1.4% to $90.00 following the CEO's sale, with a market capitalization of $1.95 billion.
• ANI Pharmaceuticals reported a quarterly EPS of $1.80, exceeding estimates, and showed a 53.2% increase in revenue from the previous year.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) CEO Nikhil Lalwani sold 56,960 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $85.93, for a total transaction of $4,894,572.80. Following the transaction, the chief executive officer directly owned 411,219 shares in the company, valued at approximately $35,336,048.67. The trade was a 12.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ANI Pharmaceuticals Stock Down 2.8%

Shares of ANIP traded down $2.53 during midday trading on Friday, hitting $87.47. The company had a trading volume of 1,063,485 shares, compared to its average volume of 633,874. ANI Pharmaceuticals, Inc. has a 1 year low of $52.50 and a 1 year high of $90.23. The firm has a market capitalization of $1.90 billion, a P/E ratio of -113.60 and a beta of 0.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The company's 50-day simple moving average is $67.85 and its 200-day simple moving average is $64.86.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, beating 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 period in the previous year, the company earned $1.02 earnings per share. As a group, sell-side analysts expect that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current year.

Hedge Funds Weigh In On ANI Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in ANI Pharmaceuticals by 89.3% in the 4th quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company's stock valued at $55,437,000 after purchasing an additional 473,097 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in ANI Pharmaceuticals by 17.2% during the second quarter. Global Alpha Capital Management Ltd. now owns 862,090 shares of the specialty pharmaceutical company's stock worth $56,251,000 after acquiring an additional 126,500 shares during the period. Dimensional Fund Advisors LP lifted its holdings in ANI Pharmaceuticals by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company's stock valued at $37,906,000 after acquiring an additional 30,420 shares during the period. Deep Track Capital LP grew its stake in shares of ANI Pharmaceuticals by 28.6% during the 4th quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company's stock worth $35,879,000 after purchasing an additional 144,214 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of ANI Pharmaceuticals by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 428,999 shares of the specialty pharmaceutical company's stock valued at $23,720,000 after purchasing an additional 3,774 shares in the last quarter. Hedge funds and other institutional investors own 76.05% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Guggenheim reiterated a "buy" rating and set a $86.00 price target on shares of ANI Pharmaceuticals in a report on Monday, May 12th. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday. HC Wainwright reiterated a "buy" rating and issued a $93.00 target price (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 research report on Monday, August 11th. Finally, Piper Sandler restated an "overweight" rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $84.75.

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.