ANI Pharmaceuticals (NASDAQ:ANIP) Sees Large Volume Increase – Time to Buy?

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP – Get Free Report) saw strong trading volume on Tuesday. 727,270 shares changed hands 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 Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group dropped their price objective on shares of ANI Pharmaceuticals from $91.00 to $90.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ANI Pharmaceuticals in a research note on Wednesday, November 4th. Guggenheim upped their target price on shares of ANI Pharmaceuticals from $119.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen cut ANI Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Leerink Partners started coverage on ANI Pharmaceuticals in a report on Wednesday, September 9th. They set an “outperform” rating and a $104.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $100.00.

Check Out Our Latest Stock Analysis on ANIP

ANI Pharmaceuticals Price Performance

The company has a market cap of $1.59 billion, a P/E ratio of 13.74, a PEG ratio of 2.31 and a beta of 0.45. The company has a fifty day moving average price of $72.42 and a two-hundred day moving average price of $77.23. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.41 and a current ratio of 2.91.

ANI Pharmaceuticals (NASDAQ:ANIP – Get Free Report) last released its earnings results on Thursday, November 5th. The specialty pharmaceutical company reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.52. ANI Pharmaceuticals had a return on equity of 27.37% and a net margin of 11.07%. The business had revenue of $290.78 million for the quarter, compared to the consensus estimate of $280.59 million. During the same quarter in the previous year, the business earned $2.04 earnings per share. ANI Pharmaceuticals’s quarterly revenue was up 27.6% on a year-over-year basis. On average, sell-side analysts anticipate that ANI Pharmaceuticals, Inc. will post 7.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ANI Pharmaceuticals news, CFO Stephen Carey sold 2,850 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $72.87, for a total value of $207,679.50. Following the completion of the transaction, the chief financial officer directly owned 166,143 shares in the company, valued at $12,106,840.41. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business’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 value of $71,530.00. Following the transaction, the director directly owned 26,762 shares in the company, valued at $1,914,285.86. This trade represents 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 have sold 27,250 shares of company stock valued at $1,977,496 in the last ninety days. 8.10% of the stock is owned by company insiders.

Institutional Trading of ANI Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its position in shares of ANI Pharmaceuticals by 19.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 564,360 shares of the specialty pharmaceutical company’s stock valued at $43,399,000 after acquiring an additional 91,153 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ANI Pharmaceuticals by 8.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 531,190 shares of the specialty pharmaceutical company’s stock worth $40,843,000 after purchasing an additional 43,523 shares during the last quarter. Ranger Investment Management L.P. bought a new stake in shares of ANI Pharmaceuticals in the 2nd quarter valued at about $28,406,000. Deutsche Bank AG bought a new stake in shares of ANI Pharmaceuticals in the 2nd quarter valued at about $26,775,000. Finally, Aberdeen Group plc raised its holdings in shares of ANI Pharmaceuticals by 23.0% in the 3rd quarter. Aberdeen Group plc now owns 334,350 shares of the specialty pharmaceutical company’s stock valued at $24,291,000 after purchasing an additional 62,590 shares during the period. 76.05% of the stock is owned by institutional investors.

ANI Pharmaceuticals Company Profile

(Get Free Report)

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.

Founded in 1996, ANI serves the U.S.

Further Reading

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