JPMorgan Chase & Co. Increases ANI Pharmaceuticals (NASDAQ:ANIP) Price Target to $115.00

ANI Pharmaceuticals (NASDAQ:ANIP) had its price objective raised by JPMorgan Chase & Co. from $95.00 to $115.00 in a research note published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty pharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on the stock. HC Wainwright raised their target price on shares of ANI Pharmaceuticals from $93.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Zacks Research raised ANI Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 16th. Guggenheim lifted their target price on shares of ANI Pharmaceuticals from $86.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $97.29.

ANI Pharmaceuticals Stock Down 0.4%

Shares of NASDAQ:ANIP opened at $94.99 on Wednesday. The firm has a market capitalization of $2.06 billion, a P/E ratio of -123.36 and a beta of 0.63. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The stock has a 50 day moving average price of $84.52 and a 200-day moving average price of $71.71. ANI Pharmaceuticals has a 52-week low of $52.50 and a 52-week high of $99.50.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.38. The company had revenue of $211.37 million for the quarter, compared to analysts’ expectations of $187.18 million. ANI Pharmaceuticals had a positive return on equity of 25.03% and a negative net margin of 1.37%.The firm’s revenue for the quarter was up 53.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, equities research analysts anticipate that ANI Pharmaceuticals will post 3.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 52,988 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $90.44, for a total transaction of $4,792,234.72. Following the completion of the sale, the chief operating officer directly owned 431,920 shares in the company, valued at approximately $39,062,844.80. The trade was a 10.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew J. Leonard sold 2,528 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $90.62, for a total value of $229,087.36. Following the completion of the transaction, the director owned 6,864 shares in the company, valued at approximately $622,015.68. This trade represents a 26.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 413,830 shares of company stock worth $36,495,294 in the last 90 days. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several institutional investors have recently made changes to their positions in ANIP. Texas Permanent School Fund Corp grew its position in ANI Pharmaceuticals by 125.3% during the second quarter. Texas Permanent School Fund Corp now owns 18,314 shares of the specialty pharmaceutical company’s stock valued at $1,195,000 after buying an additional 10,186 shares during the period. Squarepoint Ops LLC bought a new stake in shares of ANI Pharmaceuticals during the 2nd quarter valued at $2,137,000. Thrivent Financial for Lutherans increased its stake in shares of ANI Pharmaceuticals by 2.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the specialty pharmaceutical company’s stock worth $816,000 after purchasing an additional 321 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in ANI Pharmaceuticals by 200.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company’s stock worth $39,000 after purchasing an additional 400 shares during the period. Finally, State of Wyoming purchased a new position in ANI Pharmaceuticals during the second quarter valued at $50,000. 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.