Insider Selling: ANI Pharmaceuticals (NASDAQ:ANIP) Director Sells 9,000 Shares of Stock

Key Points

• Patrick D. Walsh, a director at ANI Pharmaceuticals, sold 9,000 shares at an average price of $89.05, totaling $801,450, resulting in an 11.39% decrease in his position.
• ANI Pharmaceuticals reported a quarterly EPS of $1.80, exceeding analyst expectations and achieving a revenue of $211.37 million, up 53.2% year-over-year.
• Analysts have a generally positive outlook on ANI Pharmaceuticals, with multiple firms issuing buy ratings and target prices ranging from $86.00 to $94.00.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) Director Patrick D. Walsh sold 9,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $89.05, for a total transaction of $801,450.00. Following the sale, the director owned 70,048 shares of the company's stock, valued at approximately $6,237,774.40. This represents a 11.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ANI Pharmaceuticals Stock Performance

ANIP traded down $0.13 during mid-day trading on Friday, reaching $91.01. 432,200 shares of the company traded hands, compared to its average volume of 737,724. The stock has a market capitalization of $1.97 billion, a P/E ratio of -118.19 and a beta of 0.61. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 1.39. The company's fifty day moving average price is $70.63 and its 200-day moving average price is $65.95. ANI Pharmaceuticals, Inc. has a 52-week low of $52.50 and a 52-week high of $92.53.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its 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 business had revenue of $211.37 million during the quarter, compared to analyst estimates of $187.18 million. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The company'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 EPS. On average, sell-side analysts expect that ANI Pharmaceuticals, Inc. will post 3.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. bought a new position in shares of ANI Pharmaceuticals during the 1st quarter valued at about $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of ANI Pharmaceuticals by 4,636.4% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock valued at $34,000 after purchasing an additional 510 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of ANI Pharmaceuticals by 200.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company's stock valued at $39,000 after purchasing an additional 400 shares during the last quarter. State of Wyoming bought a new position in shares of ANI Pharmaceuticals during the 2nd quarter valued at about $50,000. Finally, National Bank of Canada FI bought a new position in shares of ANI Pharmaceuticals during the 1st quarter valued at about $79,000. Institutional investors own 76.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ANIP shares. Piper Sandler reiterated an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Guggenheim reissued a "buy" rating and set a $86.00 price objective on shares of ANI Pharmaceuticals in a research report on Monday, May 12th. HC Wainwright reissued a "buy" rating and set a $93.00 price objective (up previously from $84.00) on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Truist Financial boosted their price objective on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus 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.