ANI Pharmaceuticals (NASDAQ:ANIP) Sets New 1-Year High on Strong Earnings

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) hit a new 52-week high during trading on Saturday following a better than expected earnings announcement. The company traded as high as $77.00 and last traded at $66.28, with a volume of 756687 shares trading hands. The stock had previously closed at $71.53.

The specialty pharmaceutical company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.33. The company had revenue of $197.12 million during the quarter, compared to analyst estimates of $179.75 million. ANI Pharmaceuticals had a negative net margin of 1.28% and a positive return on equity of 15.87%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ANIP shares. HC Wainwright reiterated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a report on Monday, March 17th. Jefferies Financial Group started coverage on shares of ANI Pharmaceuticals in a report on Friday, March 14th. They issued a “buy” rating and a $80.00 price objective for the company. StockNews.com downgraded shares of ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. started coverage on ANI Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $85.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and set a $86.00 price target on shares of ANI Pharmaceuticals in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.13.

Insider Buying and Selling at ANI Pharmaceuticals

In other news, VP Meredith Cook sold 400 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $68.96, for a total transaction of $27,584.00. Following the completion of the transaction, the vice president now owns 80,145 shares of the company’s stock, valued at approximately $5,526,799.20. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Krista Davis sold 1,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $60.86, for a total transaction of $60,860.00. Following the completion of the sale, the senior vice president now owns 66,525 shares of the company’s stock, valued at approximately $4,048,711.50. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,200 shares of company stock valued at $197,792 in the last 90 days. 12.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ANIP. Millennium Management LLC raised its position in ANI Pharmaceuticals by 89.3% in the fourth quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company’s stock worth $55,437,000 after purchasing an additional 473,097 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ANI Pharmaceuticals by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company’s stock valued at $37,906,000 after acquiring an additional 30,420 shares during the period. Deep Track Capital LP raised its stake in ANI Pharmaceuticals by 28.6% during the fourth quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company’s stock worth $35,879,000 after acquiring an additional 144,214 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of ANI Pharmaceuticals by 16.4% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 624,550 shares of the specialty pharmaceutical company’s stock valued at $34,525,000 after acquiring an additional 88,100 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of ANI Pharmaceuticals by 2.2% in the 4th quarter. William Blair Investment Management LLC now owns 485,268 shares of the specialty pharmaceutical company’s stock valued at $26,826,000 after purchasing an additional 10,440 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

ANI Pharmaceuticals Trading Down 7.3 %

The firm has a market cap of $1.44 billion, a P/E ratio of -120.51 and a beta of 0.56. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. The company’s fifty day moving average price is $66.86 and its two-hundred day moving average price is $60.68.

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.