ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price Down 3% on Insider Selling

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) traded down 3% on Wednesday after an insider sold shares in the company. The stock traded as low as $60.66 and last traded at $60.74. 44,865 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 147,031 shares. The stock had previously closed at $62.64.

Specifically, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $66.62, for a total value of $1,332,400.00. Following the completion of the sale, the senior vice president now owns 233,226 shares in the company, valued at approximately $15,537,516.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $66.62, for a total value of $1,332,400.00. Following the completion of the sale, the senior vice president now owns 233,226 shares in the company, valued at approximately $15,537,516.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Renee P. Tannenbaum sold 2,000 shares of ANI Pharmaceuticals stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $63.87, for a total transaction of $127,740.00. Following the completion of the sale, the director now directly owns 18,211 shares of the company’s stock, valued at approximately $1,163,136.57. The disclosure for this sale can be found here. Insiders sold 176,688 shares of company stock worth $11,332,663 in the last quarter. 12.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ANIP shares. Guggenheim reissued a “buy” rating and issued a $77.00 price target on shares of ANI Pharmaceuticals in a research report on Tuesday, April 23rd. Capital One Financial started coverage on shares of ANI Pharmaceuticals in a research report on Friday, March 15th. They issued an “overweight” rating and a $80.00 price target for the company. Finally, HC Wainwright lifted their price target on shares of ANI Pharmaceuticals from $87.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, ANI Pharmaceuticals currently has an average rating of “Buy” and an average target price of $82.75.

ANI Pharmaceuticals Stock Down 2.9 %

The company has a current ratio of 3.95, a quick ratio of 3.12 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.28 billion, a PE ratio of 38.01 and a beta of 0.75. The stock’s fifty day simple moving average is $64.01 and its 200-day simple moving average is $61.96.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings data on Friday, May 10th. The specialty pharmaceutical company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.16. The firm had revenue of $137.43 million for the quarter, compared to the consensus estimate of $125.01 million. ANI Pharmaceuticals had a net margin of 6.87% and a return on equity of 17.15%. As a group, sell-side analysts forecast that ANI Pharmaceuticals, Inc. will post 3.32 EPS for the current fiscal year.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ANIP. Deutsche Bank AG boosted its holdings in shares of ANI Pharmaceuticals by 50.7% in the 3rd quarter. Deutsche Bank AG now owns 7,643 shares of the specialty pharmaceutical company’s stock worth $444,000 after buying an additional 2,570 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of ANI Pharmaceuticals by 13.4% in the 3rd quarter. Rhumbline Advisers now owns 39,684 shares of the specialty pharmaceutical company’s stock worth $2,304,000 after buying an additional 4,700 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of ANI Pharmaceuticals in the 3rd quarter worth about $3,007,000. Graham Capital Management L.P. boosted its holdings in shares of ANI Pharmaceuticals by 164.8% in the 3rd quarter. Graham Capital Management L.P. now owns 11,966 shares of the specialty pharmaceutical company’s stock worth $695,000 after buying an additional 7,447 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of ANI Pharmaceuticals by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,132,378 shares of the specialty pharmaceutical company’s stock worth $65,746,000 after buying an additional 58,204 shares during the last quarter. 76.05% of the stock is owned by hedge funds and other institutional investors.

ANI Pharmaceuticals Company Profile

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.