Insider Selling: ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) CFO Sells 50,000 Shares of Stock

Key Points

• ANI Pharmaceuticals CFO Stephen P. Carey sold 50,000 shares at an average price of $86.07, resulting in a total transaction value of $4,303,500 and a 21.66% decrease in his ownership stake.
• The company's stock rose 1.4% to $90.00 following a quarterly earnings report where ANI Pharmaceuticals reported earnings per share of $1.80, beating estimates by $0.38.
• Analysts have set a consensus price target of $84.75 for ANI Pharmaceuticals, with ratings ranging from sell to strong buy based on various analysts' reports.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) CFO Stephen P. Carey sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 of the company's stock, valued at approximately $15,566,878.41. This represents a 21.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ANI Pharmaceuticals Price Performance

ANIP stock traded down $2.53 during trading on Friday, reaching $87.47. 1,063,485 shares of the company were exchanged, compared to its average volume of 633,874. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -113.60 and a beta of 0.61. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.54 and a quick ratio of 1.96. The company has a 50-day moving average of $67.85 and a two-hundred day moving average of $64.86. ANI Pharmaceuticals, Inc. has a twelve month low of $52.50 and a twelve month high of $90.23.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.38. The company had revenue of $211.37 million during 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%. The firm's revenue was up 53.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. As a group, equities analysts predict that ANI Pharmaceuticals, Inc. will post 3.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANIP. Public Sector Pension Investment Board lifted its holdings in shares of ANI Pharmaceuticals by 10.2% during the second quarter. Public Sector Pension Investment Board now owns 58,053 shares of the specialty pharmaceutical company's stock worth $3,788,000 after purchasing an additional 5,385 shares during the period. CANADA LIFE ASSURANCE Co raised its position in ANI Pharmaceuticals by 1.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 19,408 shares of the specialty pharmaceutical company's stock worth $1,267,000 after purchasing an additional 198 shares during the last quarter. Tower Research Capital LLC TRC raised its position in ANI Pharmaceuticals by 542.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the specialty pharmaceutical company's stock worth $113,000 after purchasing an additional 1,458 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in ANI Pharmaceuticals by 54.5% during the 2nd quarter. State of Tennessee Department of Treasury now owns 5,762 shares of the specialty pharmaceutical company's stock worth $376,000 after buying an additional 2,032 shares during the period. Finally, Rubric Capital Management LP grew its position in shares of ANI Pharmaceuticals by 354.7% in the 2nd quarter. Rubric Capital Management LP now owns 257,669 shares of the specialty pharmaceutical company's stock valued at $16,813,000 after buying an additional 200,998 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANIP has been the topic of several analyst reports. Truist Financial increased their target price 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. Guggenheim reiterated a "buy" rating and set a $86.00 target price on shares of ANI Pharmaceuticals in a report on Monday, May 12th. Wall Street Zen upgraded ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday. Piper Sandler reiterated an "overweight" rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $93.00 price objective (up from $84.00) on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $84.75.

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.