ANI Pharmaceuticals (NASDAQ:ANIP) Now Covered by Piper Sandler

Equities researchers at Piper Sandler began coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a report issued on Friday, Marketbeat reports. The brokerage set an “overweight” rating and a $68.00 price target on the specialty pharmaceutical company’s stock. Piper Sandler’s price objective would suggest a potential upside of 19.01% from the company’s previous close.

Several other brokerages also recently weighed in on ANIP. HC Wainwright restated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a report on Tuesday, September 17th. StockNews.com cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. Raymond James increased their price target on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Truist Financial restated a “hold” rating and issued a $60.00 price objective (down from $80.00) on shares of ANI Pharmaceuticals in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, ANI Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

ANI Pharmaceuticals Stock Up 3.7 %

Shares of ANI Pharmaceuticals stock opened at $57.14 on Friday. ANI Pharmaceuticals has a 1 year low of $48.20 and a 1 year high of $70.81. The firm 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 50-day moving average of $59.43 and a 200 day moving average of $62.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.97 and a quick ratio of 3.07.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.07. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The business had revenue of $138.00 million during the quarter, compared to the consensus estimate of $129.09 million. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, sell-side analysts anticipate that ANI Pharmaceuticals will post 3.58 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of ANI Pharmaceuticals by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,306,432 shares of the specialty pharmaceutical company’s stock valued at $90,314,000 after purchasing an additional 17,460 shares during the period. Dimensional Fund Advisors LP grew its position in ANI Pharmaceuticals by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 630,226 shares of the specialty pharmaceutical company’s stock valued at $40,132,000 after buying an additional 21,053 shares during the period. Millennium Management LLC increased its holdings in ANI Pharmaceuticals by 1,005.8% during the second quarter. Millennium Management LLC now owns 230,079 shares of the specialty pharmaceutical company’s stock valued at $14,651,000 after buying an additional 209,272 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in ANI Pharmaceuticals by 1.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 195,743 shares of the specialty pharmaceutical company’s stock worth $12,465,000 after acquiring an additional 2,986 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of ANI Pharmaceuticals by 15.4% during the 2nd quarter. Renaissance Technologies LLC now owns 156,802 shares of the specialty pharmaceutical company’s stock worth $9,985,000 after acquiring an additional 20,900 shares during the last quarter. Institutional investors own 76.05% of the company’s stock.

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.