JPMorgan Chase & Co. Raises ANI Pharmaceuticals (NASDAQ:ANIP) Price Target to $115.00

ANI Pharmaceuticals (NASDAQ:ANIP) had its price target lifted by JPMorgan Chase & Co. from $95.00 to $115.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the specialty pharmaceutical company’s stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler restated an “overweight” rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Friday, August 8th. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 16th. Truist Financial upped their price target on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, August 11th. HC Wainwright upped their price target on shares of ANI Pharmaceuticals from $93.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Finally, Zacks Research upgraded shares of ANI Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, ANI Pharmaceuticals has a consensus rating of “Buy” and an average target price of $97.29.

ANI Pharmaceuticals Trading Down 0.3%

ANIP stock opened at $93.05 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The company’s 50-day simple moving average is $85.56 and its 200 day simple moving average is $72.16. ANI Pharmaceuticals has a 52 week low of $52.50 and a 52 week high of $99.50. The company has a market capitalization of $2.02 billion, a PE ratio of -120.84 and a beta of 0.63.

ANI Pharmaceuticals (NASDAQ:ANIP) last released its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.42 by $0.38. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The business had revenue of $211.37 million for the quarter, compared to the consensus estimate of $187.18 million. During the same period in the prior year, the company posted $1.02 earnings per share. ANI Pharmaceuticals’s revenue was up 53.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ANI Pharmaceuticals will post 3.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Antonio R. Pera sold 7,292 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $94.94, for a total value of $692,302.48. Following the completion of the transaction, the director owned 22,660 shares in the company, valued at $2,151,340.40. This trade represents a 24.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Krista Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $98.04, for a total transaction of $98,040.00. Following the completion of the transaction, the senior vice president owned 60,186 shares of the company’s stock, valued at approximately $5,900,635.44. This trade represents a 1.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 413,830 shares of company stock worth $36,495,294 in the last quarter. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. raised its holdings in ANI Pharmaceuticals by 17.2% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 862,090 shares of the specialty pharmaceutical company’s stock worth $56,251,000 after purchasing an additional 126,500 shares during the last quarter. Aberdeen Group plc increased its stake in shares of ANI Pharmaceuticals by 76.1% in the 1st quarter. Aberdeen Group plc now owns 419,099 shares of the specialty pharmaceutical company’s stock valued at $28,059,000 after acquiring an additional 181,134 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of ANI Pharmaceuticals by 354.7% in the 2nd quarter. Rubric Capital Management LP now owns 257,669 shares of the specialty pharmaceutical company’s stock valued at $16,813,000 after acquiring an additional 200,998 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ANI Pharmaceuticals by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 238,377 shares of the specialty pharmaceutical company’s stock valued at $15,959,000 after acquiring an additional 2,220 shares in the last quarter. Finally, Nomura Holdings Inc. increased its stake in shares of ANI Pharmaceuticals by 1.5% in the 1st quarter. Nomura Holdings Inc. now owns 217,176 shares of the specialty pharmaceutical company’s stock valued at $14,540,000 after acquiring an additional 3,297 shares in the last quarter. Institutional investors own 76.05% of the company’s stock.

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.