ANI Pharmaceuticals (NASDAQ:ANIP) Coverage Initiated at Piper Sandler

Piper Sandler initiated coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a research note issued to investors on Friday, Marketbeat reports. The firm issued an overweight rating and a $68.00 price target on the specialty pharmaceutical company’s stock.

ANIP has been the subject of a number of other research reports. HC Wainwright restated a buy rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Tuesday, September 17th. StockNews.com downgraded ANI Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, September 7th. Truist Financial reiterated a hold rating and set a $60.00 target price (down previously from $80.00) on shares of ANI Pharmaceuticals in a report on Wednesday, September 11th. Finally, Raymond James boosted their price target on ANI Pharmaceuticals from $81.00 to $83.00 and gave the stock an outperform rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $77.00.

ANI Pharmaceuticals Price Performance

ANIP stock opened at $57.14 on Friday. The firm has a 50 day moving average of $59.43 and a 200-day moving average of $62.72. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 35.71 and a beta of 0.71. The company has a current ratio of 3.97, a quick ratio of 3.07 and a debt-to-equity ratio of 0.62. ANI Pharmaceuticals has a 12-month low of $48.20 and a 12-month high of $70.81.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings data on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.07. ANI Pharmaceuticals had a return on equity of 15.64% and a net margin of 5.01%. The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $129.09 million. During the same period in the previous year, the firm posted $1.06 earnings per share. ANI Pharmaceuticals’s revenue was up 18.5% on a year-over-year basis. As a group, equities analysts expect that ANI Pharmaceuticals will post 3.58 EPS for the current fiscal year.

Insider Transactions at ANI Pharmaceuticals

In related news, COO Muthusamy Shanmugam sold 14,257 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $63.16, for a total value of $900,472.12. Following the completion of the transaction, the chief operating officer now directly owns 635,363 shares in the company, valued at approximately $40,129,527.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 25,757 shares of company stock worth $1,626,762 over the last quarter. 12.70% of the stock is currently owned by insiders.

Institutional Trading of ANI Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANIP. Los Angeles Capital Management LLC boosted its position in shares of ANI Pharmaceuticals by 27.6% in the first quarter. Los Angeles Capital Management LLC now owns 24,974 shares of the specialty pharmaceutical company’s stock worth $1,726,000 after acquiring an additional 5,408 shares during the last quarter. BTC Capital Management Inc. purchased a new position in ANI Pharmaceuticals during the first quarter worth approximately $580,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of ANI Pharmaceuticals by 287.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,277 shares of the specialty pharmaceutical company’s stock valued at $1,471,000 after purchasing an additional 15,790 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of ANI Pharmaceuticals by 70.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 4,033 shares of the specialty pharmaceutical company’s stock valued at $279,000 after buying an additional 1,666 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of ANI Pharmaceuticals by 8.2% during the 1st quarter. Principal Financial Group Inc. now owns 87,699 shares of the specialty pharmaceutical company’s stock worth $6,063,000 after buying an additional 6,626 shares during the last quarter. Hedge funds and other 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.