ANI Pharmaceuticals (NASDAQ:ANIP) Trading 3.1% Higher – Still a Buy?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price was up 3.1% during mid-day trading on Wednesday . The stock traded as high as $67.95 and last traded at $68.41. Approximately 31,236 shares were traded during trading, a decline of 87% from the average daily volume of 242,756 shares. The stock had previously closed at $66.33.

Analysts Set New Price Targets

Several equities analysts recently commented on ANIP shares. HC Wainwright reissued a “buy” rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a report on Monday, March 17th. Leerink Partners initiated coverage on ANI Pharmaceuticals in a report on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 price objective on the stock. StockNews.com upgraded ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Guggenheim increased their price target on shares of ANI Pharmaceuticals from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. assumed coverage on shares of ANI Pharmaceuticals in a report on Wednesday, March 12th. They set an “overweight” rating and a $85.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.75.

ANI Pharmaceuticals Trading Up 1.5 %

The business’s 50-day moving average price is $59.88 and its 200-day moving average price is $58.18. The firm has a market capitalization of $1.47 billion, a PE ratio of -122.46 and a beta of 0.63. The company has a debt-to-equity ratio of 1.52, a current ratio of 2.74 and a quick ratio of 1.97.

Insider Buying and Selling

In related news, VP Meredith Cook sold 400 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $63.33, for a total transaction of $25,332.00. Following the completion of the transaction, the vice president now directly owns 80,545 shares of the company’s stock, valued at $5,100,914.85. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Krista Davis sold 1,000 shares of ANI Pharmaceuticals stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $60.86, for a total value of $60,860.00. Following the completion of the sale, the senior vice president now directly owns 66,525 shares in the company, valued at $4,048,711.50. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,200 shares of company stock worth $191,776 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Institutional Trading of ANI Pharmaceuticals

Several hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its position in ANI Pharmaceuticals by 89.3% in the fourth quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company’s stock worth $55,437,000 after acquiring an additional 473,097 shares in the last quarter. State Street Corp grew its stake in shares of ANI Pharmaceuticals by 9.1% during the 3rd quarter. State Street Corp now owns 703,843 shares of the specialty pharmaceutical company’s stock worth $41,991,000 after purchasing an additional 58,698 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ANI Pharmaceuticals by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company’s stock valued at $37,906,000 after purchasing an additional 30,420 shares in the last quarter. Deep Track Capital LP lifted its stake in shares of ANI Pharmaceuticals by 28.6% in the fourth quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company’s stock valued at $35,879,000 after purchasing an additional 144,214 shares during the period. Finally, Global Alpha Capital Management Ltd. boosted its holdings in ANI Pharmaceuticals by 16.4% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 624,550 shares of the specialty pharmaceutical company’s stock worth $34,525,000 after buying an additional 88,100 shares in the last quarter. 76.05% of the stock is owned by institutional investors and hedge funds.

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.