ANI Pharmaceuticals (NASDAQ:ANIP) Sees Strong Trading Volume – Still a Buy?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) shares saw strong trading volume on Tuesday. 727,270 shares were traded during trading, an increase of 88% from the average daily volume of 385,934 shares. The stock last traded at $68.8190 and had previously closed at $67.79.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of ANI Pharmaceuticals from $91.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, August 10th. Guggenheim upped their price objective on shares of ANI Pharmaceuticals from $119.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ANI Pharmaceuticals in a research note on Wednesday, November 4th. Wall Street Zen downgraded ANI Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Leerink Partners began coverage on ANI Pharmaceuticals in a research report on Wednesday, September 9th. They set an “outperform” rating and a $104.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.00.

ANI Pharmaceuticals Stock Performance

The company has a quick ratio of 2.33, a current ratio of 2.75 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average of $72.37 and a 200 day moving average of $77.10. The stock has a market capitalization of $1.63 billion, a P/E ratio of 14.16, a PEG ratio of 2.30 and a beta of 0.45.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings results on Thursday, November 5th. The specialty pharmaceutical company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.52. ANI Pharmaceuticals had a net margin of 11.22% and a return on equity of 28.34%. The firm had revenue of $290.78 million for the quarter, compared to analyst estimates of $280.59 million. During the same quarter in the previous year, the firm posted $2.04 EPS. The business’s revenue for the quarter was up 27.6% on a year-over-year basis. Research analysts anticipate that ANI Pharmaceuticals, Inc. will post 7.76 EPS for the current fiscal year.

Insider Activity

In other news, CEO Nikhil Lalwani sold 5,400 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $71.89, for a total transaction of $388,206.00. Following the completion of the sale, the chief executive officer owned 333,689 shares of the company’s stock, valued at approximately $23,988,902.21. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeanne Thoma sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $71.53, for a total transaction of $71,530.00. Following the sale, the director directly owned 26,762 shares of the company’s stock, valued at approximately $1,914,285.86. The trade was a 3.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,750 shares of company stock valued at $1,939,756 over the last three months. 8.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ANIP. Hohimer Wealth Management LLC raised its position in ANI Pharmaceuticals by 4.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 3,638 shares of the specialty pharmaceutical company’s stock worth $264,000 after purchasing an additional 142 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in ANI Pharmaceuticals by 1.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 9,577 shares of the specialty pharmaceutical company’s stock valued at $736,000 after buying an additional 143 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of ANI Pharmaceuticals by 5.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,148 shares of the specialty pharmaceutical company’s stock valued at $229,000 after buying an additional 150 shares during the period. Hantz Financial Services Inc. increased its stake in shares of ANI Pharmaceuticals by 24.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 778 shares of the specialty pharmaceutical company’s stock valued at $57,000 after buying an additional 154 shares during the period. Finally, James Investment Research Inc. increased its stake in shares of ANI Pharmaceuticals by 4.3% in the 3rd quarter. James Investment Research Inc. now owns 4,850 shares of the specialty pharmaceutical company’s stock valued at $352,000 after buying an additional 200 shares during the period. 76.05% of the stock is owned by institutional investors and hedge funds.

ANI Pharmaceuticals Company Profile

ANI Pharmaceuticals, Inc. is a specialty pharmaceutical company that develops, manufactures and markets branded and generic prescription medicines. Its portfolio includes products in areas such as rare disease, specialty care and established brands, alongside a range of generic drugs. The company’s rare-disease portfolio includes Purified Cortrophin Gel, a prescription medicine used to treat certain inflammatory and other conditions. ANI also produces and markets complex and specialty generics, which can require more involved development or manufacturing than conventional generic drugs.