ANI Pharmaceuticals (NASDAQ:ANIP) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a research note released on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $85.00 price objective on the specialty pharmaceutical company’s stock.

ANIP has been the topic of several other research reports. Guggenheim increased their price target on shares of ANI Pharmaceuticals from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. StockNews.com lowered shares of ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. HC Wainwright restated a “buy” rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Monday, March 3rd. Leerink Partners initiated coverage on shares of ANI Pharmaceuticals in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, Leerink Partnrs upgraded shares of ANI Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.75.

ANI Pharmaceuticals Stock Performance

NASDAQ ANIP opened at $63.26 on Wednesday. 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 firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -115.02 and a beta of 0.62. The firm’s 50 day simple moving average is $57.98 and its 200 day simple moving average is $58.07. ANI Pharmaceuticals has a 1 year low of $52.50 and a 1 year high of $70.81.

Insider Activity

In other news, CFO Stephen P. Carey sold 7,500 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.79, for a total transaction of $418,425.00. Following the completion of the transaction, the chief financial officer now owns 154,468 shares of the company’s stock, valued at approximately $8,617,769.72. This trade represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Krista Davis sold 1,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $60.86, for a total transaction of $60,860.00. Following the transaction, the senior vice president now directly owns 66,525 shares of the company’s stock, valued at $4,048,711.50. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,300 shares of company stock valued at $584,869. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ANIP. US Bancorp DE raised its stake in ANI Pharmaceuticals by 842.9% during the fourth quarter. US Bancorp DE now owns 594 shares of the specialty pharmaceutical company’s stock worth $33,000 after buying an additional 531 shares during the last quarter. KBC Group NV raised its stake in ANI Pharmaceuticals by 89.2% during the fourth quarter. KBC Group NV now owns 1,273 shares of the specialty pharmaceutical company’s stock worth $70,000 after buying an additional 600 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in ANI Pharmaceuticals during the fourth quarter worth $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ANI Pharmaceuticals by 24.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock worth $177,000 after buying an additional 579 shares during the last quarter. Finally, Rafferty Asset Management LLC bought a new position in ANI Pharmaceuticals during the fourth quarter worth $200,000. Institutional investors 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.