ANI Pharmaceuticals (NASDAQ:ANIP) Cut to Hold at StockNews.com

ANI Pharmaceuticals (NASDAQ:ANIP) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

ANIP has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a research note on Wednesday, August 7th. Truist Financial cut ANI Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

ANI Pharmaceuticals Stock Performance

ANI Pharmaceuticals stock traded down $0.04 during mid-day trading on Tuesday, reaching $63.25. 367,137 shares of the company’s stock were exchanged, compared to its average volume of 181,826. The business’s fifty day simple moving average is $61.88 and its 200 day simple moving average is $63.76. The company has a quick ratio of 3.12, a current ratio of 3.95 and a debt-to-equity ratio of 0.63. ANI Pharmaceuticals has a one year low of $48.20 and a one year high of $70.81. The firm has a market capitalization of $1.33 billion, a PE ratio of 39.53 and a beta of 0.75.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. The company had revenue of $138.00 million for the quarter, compared to the consensus estimate of $129.09 million. ANI Pharmaceuticals had a net margin of 6.87% and a return on equity of 17.15%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, sell-side analysts expect that ANI Pharmaceuticals 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 the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $64.41, for a total transaction of $1,288,200.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stephen P. Carey sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $63.58, for a total value of $317,900.00. Following the sale, the chief financial officer now directly owns 161,968 shares of the company’s stock, valued at $10,297,925.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Chad Gassert sold 20,000 shares of the 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 directly 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 three months, insiders have sold 93,992 shares of company stock worth $5,897,630. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP raised its position in ANI Pharmaceuticals by 32.8% during the fourth quarter. Rubric Capital Management LP now owns 1,125,000 shares of the specialty pharmaceutical company’s stock valued at $62,032,000 after purchasing an additional 277,989 shares in the last quarter. Millennium Management LLC raised its holdings in shares of ANI Pharmaceuticals by 1,005.8% during the 2nd quarter. Millennium Management LLC now owns 230,079 shares of the specialty pharmaceutical company’s stock valued at $14,651,000 after buying an additional 209,272 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in ANI Pharmaceuticals by 10.8% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 582,428 shares of the specialty pharmaceutical company’s stock worth $32,115,000 after buying an additional 56,900 shares during the last quarter. American Century Companies Inc. boosted its stake in ANI Pharmaceuticals by 99.2% in the second quarter. American Century Companies Inc. now owns 99,831 shares of the specialty pharmaceutical company’s stock worth $6,357,000 after buying an additional 49,717 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in ANI Pharmaceuticals by 121.3% in the first quarter. Assenagon Asset Management S.A. now owns 83,944 shares of the specialty pharmaceutical company’s stock worth $5,803,000 after buying an additional 46,008 shares in the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

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.