ANI Pharmaceuticals (NASDAQ:ANIP) Sees Strong Trading Volume - Time to Buy?

Key Points

• Trading volume surged 88% to 727,270 shares, while ANIP rose 1.5% from its previous close to $68.82.
• ANI Pharmaceuticals beat quarterly estimates, reporting EPS of $2.70 versus $2.18 expected and revenue of $290.78 million versus $280.59 million; revenue increased 27.6% year over year.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is Hold, with an average price target of $100. Insiders sold 27,250 shares over the last quarter, under pre-arranged trading plans.

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP - Get Free Report) shares saw unusually-strong trading volume on Tuesday. 727,270 shares changed hands during trading, an increase of 88% from the average daily volume of 385,934 shares. The stock last traded at $68.8190 and had previously closed at $67.79.

Analyst Ratings Changes

Several research firms have recently weighed in on ANIP. Wall Street Zen lowered ANI Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Canaccord Genuity Group cut their target price on ANI Pharmaceuticals from $91.00 to $90.00 and set a "hold" rating on the stock in a research report on Monday, August 10th. Guggenheim upped their target price on ANI Pharmaceuticals from $119.00 to $121.00 and gave the company a "buy" rating in a report on Friday. Oppenheimer started coverage on ANI Pharmaceuticals in a report on Wednesday, September 23rd. They set a "market perform" rating and a $85.00 target price for the company. Finally, Leerink Partners assumed coverage on ANI Pharmaceuticals in a research report on Wednesday, September 9th. They issued an "outperform" rating and a $104.00 price target for the company. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $100.00.

ANI Pharmaceuticals Stock Up 2.2%

The business's 50-day moving average price is $72.42 and its 200-day moving average price is $77.23. The company has a quick ratio of 2.41, a current ratio of 2.91 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $1.59 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.45.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The specialty pharmaceutical company reported $2.70 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.52. ANI Pharmaceuticals had a net margin of 11.07% and a return on equity of 27.37%. The firm had revenue of $290.78 million for the quarter, compared to the consensus estimate of $280.59 million. During the same period in the previous year, the firm posted $2.04 earnings per share. The firm's revenue was up 27.6% on a year-over-year basis. As a group, equities research analysts predict that ANI Pharmaceuticals, Inc. will post 7.76 EPS for the current fiscal year.

Insider Transactions at ANI Pharmaceuticals

In other news, CEO Nikhil Lalwani sold 5,400 shares of ANI Pharmaceuticals stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $74.30, for a total transaction of $401,220.00. Following the completion of the sale, the chief executive officer directly owned 344,489 shares in the company, valued at $25,595,532.70. The trade was a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Stephen P. Carey sold 2,850 shares of ANI Pharmaceuticals stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $72.87, for a total transaction of $207,679.50. Following the completion of the sale, the chief financial officer owned 166,143 shares of the company's stock, valued at $12,106,840.41. This trade represents a 1.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 27,250 shares of company stock valued at $1,977,496. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ANIP. Hohimer Wealth Management LLC lifted its holdings in shares of ANI Pharmaceuticals by 4.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 3,638 shares of the specialty pharmaceutical company's stock valued at $264,000 after purchasing an additional 142 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of ANI Pharmaceuticals by 1.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 9,577 shares of the specialty pharmaceutical company's stock valued at $736,000 after purchasing an additional 143 shares during the period. Commonwealth Equity Services LLC grew its position in shares of ANI Pharmaceuticals by 5.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,148 shares of the specialty pharmaceutical company's stock valued at $229,000 after purchasing an additional 150 shares during the period. Hantz Financial Services Inc. increased its stake in ANI Pharmaceuticals by 24.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 778 shares of the specialty pharmaceutical company's stock worth $57,000 after purchasing an additional 154 shares in the last quarter. Finally, James Investment Research Inc. increased its stake in ANI Pharmaceuticals by 4.3% during the 3rd quarter. James Investment Research Inc. now owns 4,850 shares of the specialty pharmaceutical company's stock worth $352,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company's stock.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc is a specialty pharmaceutical company that develops, manufactures and markets branded and generic prescription medicines. Its portfolio includes products in areas such as rare disease, specialty care and established brands, alongside a range of generic drugs.

The company's rare-disease portfolio includes Purified Cortrophin Gel, a prescription medicine used to treat certain inflammatory and other conditions. ANI also produces and markets complex and specialty generics, which can require more involved development or manufacturing than conventional generic drugs.

Founded in 1996, ANI serves the U.S.

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