ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Down to $63.29

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) gapped down before the market opened on Wednesday . The stock had previously closed at $63.29, but opened at $53.51. ANI Pharmaceuticals shares last traded at $56.19, with a volume of 72,615 shares.

Wall Street Analysts Forecast Growth

ANIP has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research report on Wednesday. Guggenheim reiterated a “buy” rating and set a $77.00 price objective on shares of ANI Pharmaceuticals in a research report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $82.75.

ANI Pharmaceuticals Stock Down 11.0 %

The business’s 50 day simple moving average is $63.12 and its 200-day simple moving average is $63.29. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 35.13 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.12 and a current ratio of 3.95.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. ANI Pharmaceuticals had a net margin of 6.87% and a return on equity of 17.15%. The company had revenue of $138.00 million during the quarter, compared to analyst estimates of $129.09 million. During the same quarter last year, the business posted $1.06 EPS. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. Sell-side analysts expect that ANI Pharmaceuticals, Inc. will post 3.3 earnings per share for the current year.

Insider Activity at ANI Pharmaceuticals

In related news, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $64.41, for a total value of $1,288,200.00. Following the completion of the sale, the senior vice president now owns 213,226 shares of the company’s stock, valued at approximately $13,733,886.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Christopher Mutz sold 2,000 shares of ANI Pharmaceuticals stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $61.61, for a total value of $123,220.00. Following the transaction, the insider now owns 83,277 shares in the company, valued at approximately $5,130,695.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $64.41, for a total transaction of $1,288,200.00. Following the completion of the transaction, the senior vice president now owns 213,226 shares in the company, valued at approximately $13,733,886.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,202 shares of company stock valued at $9,387,374. Insiders own 12.70% of the company’s stock.

Institutional Trading of ANI Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC acquired a new position in ANI Pharmaceuticals in the fourth quarter valued at about $58,000. Innealta Capital LLC acquired a new position in ANI Pharmaceuticals in the second quarter valued at about $65,000. Ridgewood Investments LLC acquired a new position in ANI Pharmaceuticals in the second quarter valued at about $85,000. SG Americas Securities LLC acquired a new position in ANI Pharmaceuticals in the first quarter valued at about $106,000. Finally, ADAR1 Capital Management LLC acquired a new position in ANI Pharmaceuticals in the fourth quarter valued at about $132,000. Institutional investors own 76.05% 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.