ANI Pharmaceuticals (NASDAQ:ANIP) Upgraded by Zacks Research to Strong-Buy Rating

ANI Pharmaceuticals (NASDAQ:ANIP) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on ANIP. Guggenheim increased their target price on ANI Pharmaceuticals from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Wall Street Zen downgraded ANI Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ANI Pharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.33.

ANI Pharmaceuticals Stock Performance

Shares of ANIP opened at $78.07 on Wednesday. The business’s fifty day simple moving average is $76.15 and its two-hundred day simple moving average is $82.08. The company has a current ratio of 2.71, a quick ratio of 2.19 and a debt-to-equity ratio of 1.11. ANI Pharmaceuticals has a 12 month low of $56.71 and a 12 month high of $99.50. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 23.24 and a beta of 0.44.

Insider Activity

In other news, SVP Krista Davis sold 2,084 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $77.53, for a total transaction of $161,572.52. Following the transaction, the senior vice president directly owned 50,993 shares of the company’s stock, valued at $3,953,487.29. This represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas Andrew Rowland sold 4,772 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $74.91, for a total value of $357,470.52. Following the transaction, the senior vice president directly owned 38,730 shares in the company, valued at $2,901,264.30. The trade was a 10.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 27,860 shares of company stock worth $2,111,581. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ANIP. Advisors Asset Management Inc. bought a new position in ANI Pharmaceuticals in the 1st quarter worth $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ANI Pharmaceuticals by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,993 shares of the specialty pharmaceutical company’s stock worth $736,000 after purchasing an additional 470 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in ANI Pharmaceuticals by 0.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 48,322 shares of the specialty pharmaceutical company’s stock worth $3,235,000 after purchasing an additional 423 shares during the period. Jane Street Group LLC bought a new position in ANI Pharmaceuticals in the 1st quarter worth $2,706,000. Finally, Norges Bank bought a new position in ANI Pharmaceuticals in the 2nd quarter worth $625,000. 76.05% of the stock is owned by institutional investors.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc is a United States–based specialty pharmaceutical company focused on the development, manufacturing and commercialization of generic and branded prescription drugs. The company operates as an end-to-end provider, offering services that range from active pharmaceutical ingredient (API) production and formulation development to finished dosage form manufacturing and packaging.

ANI’s product portfolio encompasses injectable and oral therapies across several therapeutic areas, including endocrinology, oncology, pain management and respiratory care.