ANI Pharmaceuticals (NASDAQ:ANIP) COO Muthusamy Shanmugam Sells 47,010 Shares

Key Points

• ANI Pharmaceuticals COO Muthusamy Shanmugam sold 47,010 shares of stock at an average price of $89.48, amounting to approximately $4.2 million, reducing his ownership in the company by 7.44%.
• The company's stock has seen significant price movement, trading at $89.71 with a market cap of $1.95 billion, following a 53.2% increase in revenue reported for the last quarter.
• Wall Street analysts have shown confidence in ANI Pharmaceuticals, with multiple upgrades to their ratings and price targets, including an increase from Truist Financial from $65.00 to $77.00.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) COO Muthusamy Shanmugam sold 47,010 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $89.48, for a total transaction of $4,206,454.80. Following the sale, the chief operating officer directly owned 584,910 shares of the company's stock, valued at approximately $52,337,746.80. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Muthusamy Shanmugam also recently made the following trade(s):

• On Thursday, August 21st, Muthusamy Shanmugam sold 52,988 shares of ANI Pharmaceuticals stock. The stock was sold at an average price of $90.44, for a total transaction of $4,792,234.72.
• On Wednesday, August 20th, Muthusamy Shanmugam sold 47,012 shares of ANI Pharmaceuticals stock. The shares were sold at an average price of $90.27, for a total transaction of $4,243,773.24.
• On Friday, August 15th, Muthusamy Shanmugam sold 52,990 shares of ANI Pharmaceuticals stock. The shares were sold at an average price of $87.15, for a total transaction of $4,618,078.50.

ANI Pharmaceuticals Stock Down 0.1%

NASDAQ:ANIP traded down $0.13 during trading hours on Friday, hitting $91.01. The stock had a trading volume of 432,200 shares, compared to its average volume of 737,724. 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, Inc. has a 1-year low of $52.50 and a 1-year high of $92.53. The business has a 50 day simple moving average of $70.63 and a two-hundred day simple moving average of $65.95. The company has a market cap of $1.97 billion, a PE ratio of -118.19 and a beta of 0.61.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last issued 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. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The company had revenue of $211.37 million during the quarter, compared to the consensus estimate of $187.18 million. During the same quarter last year, the company earned $1.02 earnings per share. ANI Pharmaceuticals's revenue for the quarter was up 53.2% on a year-over-year basis. Analysts predict that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Zacks Research raised shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Piper Sandler reissued an "overweight" rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Truist Financial raised their price target on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. HC Wainwright reissued a "buy" rating and set a $93.00 price target (up previously from $84.00) on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Finally, Guggenheim reissued a "buy" rating and set a $86.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, May 12th. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $84.75.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co boosted its holdings in ANI Pharmaceuticals by 1.0% in the second 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 period. Hohimer Wealth Management LLC lifted its stake in ANI Pharmaceuticals by 5.2% in the first quarter. Hohimer Wealth Management LLC now owns 4,989 shares of the specialty pharmaceutical company's stock valued at $334,000 after buying an additional 247 shares during the last quarter. Legal & General Group Plc lifted its stake in ANI Pharmaceuticals by 0.8% in the second quarter. Legal & General Group Plc now owns 46,712 shares of the specialty pharmaceutical company's stock valued at $3,048,000 after buying an additional 351 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ANI Pharmaceuticals by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,523 shares of the specialty pharmaceutical company's stock valued at $582,000 after buying an additional 364 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in ANI Pharmaceuticals by 10.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,368 shares of the specialty pharmaceutical company's stock valued at $285,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 76.05% of the company's stock.

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.