Matthew J. Leonard Sells 6,937 Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) Stock

Key Points

• Director Matthew J. Leonard sold 6,937 shares of ANI Pharmaceuticals at an average price of $88.17, decreasing his ownership by 42.48%.
• ANI Pharmaceuticals reported $1.80 EPS in the latest quarter, surpassing analysts' expectations and achieving a 53.2% year-over-year revenue increase.
• Analysts have set target prices for ANI Pharmaceuticals, with an average price of $84.75 and several firms maintaining or upgrading their ratings to "buy" or "strong-buy."

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) Director Matthew J. Leonard sold 6,937 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $88.17, for a total value of $611,635.29. Following the completion of the sale, the director owned 9,392 shares of the company's stock, valued at $828,092.64. This trade represents a 42.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ANI Pharmaceuticals Trading Up 2.6%

NASDAQ:ANIP traded up $2.24 during mid-day trading on Monday, reaching $89.71. 720,188 shares of the company's stock traded hands, compared to its average volume of 670,738. ANI Pharmaceuticals, Inc. has a 12-month low of $52.50 and a 12-month high of $90.83. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -116.50 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 price of $68.38 and a 200-day moving average price of $65.11.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.38. The company 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 firm's revenue for the quarter was up 53.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. On average, sell-side analysts predict that ANI Pharmaceuticals, Inc. will post 3.86 earnings per share for the current year.

Hedge Funds Weigh In On ANI Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake in shares of ANI Pharmaceuticals by 35.7% during the fourth quarter. Wells Fargo & Company MN now owns 10,169 shares of the specialty pharmaceutical company's stock worth $562,000 after buying an additional 2,676 shares during the period. Envestnet Asset Management Inc. boosted its position in ANI Pharmaceuticals by 34.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 4,930 shares of the specialty pharmaceutical company's stock worth $273,000 after acquiring an additional 1,256 shares during the last quarter. Legal & General Group Plc boosted its holdings in ANI Pharmaceuticals by 5.6% in the 4th quarter. Legal & General Group Plc now owns 48,425 shares of the specialty pharmaceutical company's stock valued at $2,677,000 after purchasing an additional 2,585 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ANI Pharmaceuticals in the 4th quarter valued at approximately $3,916,000. Finally, Barclays PLC increased its stake in ANI Pharmaceuticals by 9.8% during the 4th quarter. Barclays PLC now owns 157,060 shares of the specialty pharmaceutical company's stock worth $8,682,000 after buying an additional 14,027 shares during the period. 76.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Guggenheim reiterated a "buy" rating and set a $86.00 target price on shares of ANI Pharmaceuticals in a research note on Monday, May 12th. Truist Financial increased their target price on ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. HC Wainwright reiterated a "buy" rating and set a $93.00 target price (up previously from $84.00) on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One investment 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 stock. Based on data from MarketBeat, ANI Pharmaceuticals 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.

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