Summit Global Investments Invests $773,000 in ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)

Summit Global Investments purchased a new stake in ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,027 shares of the specialty pharmaceutical company's stock, valued at approximately $773,000. Summit Global Investments owned approximately 0.07% of ANI Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANIP. China Universal Asset Management Co. Ltd. lifted its position in shares of ANI Pharmaceuticals by 93.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 513 shares of the specialty pharmaceutical company's stock worth $30,000 after purchasing an additional 248 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in ANI Pharmaceuticals in the 3rd quarter worth approximately $34,000. Pacer Advisors Inc. purchased a new stake in ANI Pharmaceuticals in the 4th quarter worth approximately $41,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of ANI Pharmaceuticals during the 3rd quarter valued at $189,000. Finally, C M Bidwell & Associates Ltd. grew its holdings in shares of ANI Pharmaceuticals by 398.6% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 3,266 shares of the specialty pharmaceutical company's stock valued at $190,000 after acquiring an additional 2,611 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ANIP shares. Capital One Financial began coverage on ANI Pharmaceuticals in a research report on Friday, March 15th. They issued an "overweight" rating and a $80.00 target price on the stock. Truist Financial lifted their target price on shares of ANI Pharmaceuticals from $72.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Guggenheim restated a "buy" rating and set a $77.00 price target on shares of ANI Pharmaceuticals in a research note on Tuesday, April 23rd. Finally, HC Wainwright lifted their price objective on shares of ANI Pharmaceuticals from $73.00 to $83.00 and gave the company a "buy" rating in a research note on Monday, March 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $80.00.

ANI Pharmaceuticals Stock Performance

Shares of NASDAQ:ANIP traded up $0.14 during trading on Friday, reaching $67.25. The stock had a trading volume of 108,735 shares, compared to its average volume of 122,889. The stock has a fifty day simple moving average of $66.58 and a two-hundred day simple moving average of $59.17. The company has a quick ratio of 2.81, a current ratio of 3.57 and a debt-to-equity ratio of 0.66. ANI Pharmaceuticals, Inc. has a 52 week low of $37.64 and a 52 week high of $70.81. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 80.06 and a beta of 0.80.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its earnings results on Thursday, February 29th. The specialty pharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. ANI Pharmaceuticals had a net margin of 3.86% and a return on equity of 18.06%. The firm had revenue of $131.65 million for the quarter, compared to the consensus estimate of $123.02 million. As a group, analysts anticipate that ANI Pharmaceuticals, Inc. will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP James G. Marken sold 24,338 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $66.37, for a total value of $1,615,313.06. Following the sale, the senior vice president now owns 124,492 shares in the company, valued at $8,262,534.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Muthusamy Shanmugam sold 7,414 shares of the business's stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $66.33, for a total transaction of $491,770.62. Following the transaction, the chief operating officer now directly owns 825,206 shares in the company, valued at $54,735,913.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James G. Marken sold 24,338 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $66.37, for a total value of $1,615,313.06. Following the completion of the sale, the senior vice president now owns 124,492 shares of the company's stock, valued at approximately $8,262,534.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,803 shares of company stock valued at $11,695,866. Insiders own 12.70% of the company's stock.

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.