Truist Financial Forecasts Strong Price Appreciation for ANI Pharmaceuticals (NASDAQ:ANIP) Stock

ANI Pharmaceuticals (NASDAQ:ANIP) had its price target lifted by stock analysts at Truist Financial from $77.00 to $90.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “hold” rating on the specialty pharmaceutical company’s stock. Truist Financial’s price objective would suggest a potential upside of 0.23% from the stock’s current price.

Several other brokerages have also recently issued reports on ANIP. Zacks Research raised shares of ANI Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. HC Wainwright boosted their price objective 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. Guggenheim upped their price target on shares of ANI Pharmaceuticals from $86.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Weiss Ratings cut shares of ANI Pharmaceuticals from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of ANI Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ANI Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $99.14.

ANI Pharmaceuticals Stock Down 1.1%

Shares of NASDAQ ANIP opened at $89.79 on Thursday. ANI Pharmaceuticals has a 52-week low of $52.50 and a 52-week high of $99.50. The firm has a fifty day moving average of $90.63 and a 200-day moving average of $74.00. The stock has a market capitalization of $1.95 billion, a PE ratio of -116.61 and a beta of 0.58. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 1.39.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings data on Thursday, June 8th. The specialty pharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The company had revenue of $64.48 million for the quarter. On average, analysts anticipate that ANI Pharmaceuticals will post 3.86 EPS for the current year.

Insider Transactions at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $86.97, for a total value of $1,739,400.00. Following the transaction, the senior vice president owned 173,226 shares in the company, valued at $15,065,465.22. The trade was a 10.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nikhil Lalwani sold 56,960 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $85.93, for a total transaction of $4,894,572.80. Following the completion of the transaction, the chief executive officer owned 411,219 shares in the company, valued at $35,336,048.67. This represents a 12.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 413,830 shares of company stock worth $36,495,294 over the last three months. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in ANI Pharmaceuticals by 9.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,505 shares of the specialty pharmaceutical company’s stock worth $138,000 after buying an additional 126 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of ANI Pharmaceuticals by 1.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 19,408 shares of the specialty pharmaceutical company’s stock valued at $1,267,000 after purchasing an additional 198 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of ANI Pharmaceuticals by 5.2% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,989 shares of the specialty pharmaceutical company’s stock valued at $334,000 after purchasing an additional 247 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of ANI Pharmaceuticals by 2.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the specialty pharmaceutical company’s stock valued at $816,000 after purchasing an additional 321 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of ANI Pharmaceuticals by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 46,712 shares of the specialty pharmaceutical company’s stock valued at $3,048,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds 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.