ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Down – Should You Sell?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $57.86, but opened at $56.00. ANI Pharmaceuticals shares last traded at $56.00, with a volume of 17,753 shares traded.

Wall Street Analysts Forecast Growth

ANIP has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, November 11th. StockNews.com cut ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. Truist Financial raised their target price on ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Piper Sandler initiated coverage on ANI Pharmaceuticals in a research report on Friday, October 11th. They set an “overweight” rating and a $68.00 target price on the stock. Finally, Raymond James raised their target price on ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

ANI Pharmaceuticals Price Performance

The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. The company’s fifty day moving average is $58.32 and its two-hundred day moving average is $60.76. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -105.20 and a beta of 0.71.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its earnings results on Friday, November 8th. The specialty pharmaceutical company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.25. ANI Pharmaceuticals had a negative net margin of 1.28% and a positive return on equity of 15.87%. The firm had revenue of $148.30 million during the quarter, compared to the consensus estimate of $144.37 million. During the same quarter last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts predict that ANI Pharmaceuticals, Inc. will post 3.87 earnings per share for the current year.

Institutional Trading of ANI Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of ANI Pharmaceuticals in the first quarter worth $106,000. Vanguard Group Inc. grew its stake in shares of ANI Pharmaceuticals by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,306,432 shares of the specialty pharmaceutical company’s stock worth $90,314,000 after acquiring an additional 17,460 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of ANI Pharmaceuticals in the first quarter worth $218,000. CANADA LIFE ASSURANCE Co grew its stake in shares of ANI Pharmaceuticals by 7.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 13,036 shares of the specialty pharmaceutical company’s stock worth $900,000 after acquiring an additional 909 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of ANI Pharmaceuticals in the first quarter worth $289,000. Institutional investors and hedge funds own 76.05% of the company’s stock.

ANI Pharmaceuticals Company Profile

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.