ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up After Earnings Beat

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $71.53, but opened at $76.01. ANI Pharmaceuticals shares last traded at $70.07, with a volume of 148,066 shares.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ANIP. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a research note on Monday, March 17th. Truist Financial upped their price target on shares of ANI Pharmaceuticals from $62.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, April 21st. Jefferies Financial Group initiated coverage on ANI Pharmaceuticals in a research report on Friday, March 14th. They issued a “buy” rating and a $80.00 price objective for the company. StockNews.com lowered ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, April 24th. Finally, Guggenheim reiterated a “buy” rating and issued a $86.00 target price on shares of ANI Pharmaceuticals in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ANI Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

Insider Buying and Selling

In other ANI Pharmaceuticals news, VP Meredith Cook sold 400 shares of ANI Pharmaceuticals stock in a transaction on Monday, April 14th. The shares were sold at an average price of $68.96, for a total transaction of $27,584.00. Following the transaction, the vice president now directly owns 80,145 shares of the company’s stock, valued at $5,526,799.20. The trade was a 0.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Krista Davis sold 1,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $60.20, for a total transaction of $60,200.00. Following the completion of the sale, the senior vice president now owns 68,624 shares of the company’s stock, valued at approximately $4,131,164.80. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,200 shares of company stock worth $197,792 in the last ninety days. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in ANI Pharmaceuticals by 14.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,442 shares of the specialty pharmaceutical company’s stock valued at $854,000 after acquiring an additional 1,972 shares during the last quarter. Barclays PLC grew its stake in ANI Pharmaceuticals by 1,681.2% in the 3rd quarter. Barclays PLC now owns 143,033 shares of the specialty pharmaceutical company’s stock valued at $8,534,000 after buying an additional 135,003 shares in the last quarter. Franklin Resources Inc. raised its holdings in ANI Pharmaceuticals by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 12,057 shares of the specialty pharmaceutical company’s stock valued at $705,000 after acquiring an additional 691 shares during the period. Victory Capital Management Inc. raised its stake in shares of ANI Pharmaceuticals by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 13,777 shares of the specialty pharmaceutical company’s stock valued at $762,000 after purchasing an additional 858 shares during the period. Finally, SG Americas Securities LLC bought a new position in ANI Pharmaceuticals in the 4th quarter worth about $544,000. Hedge funds and other institutional investors own 76.05% of the company’s stock.

ANI Pharmaceuticals Stock Down 7.3 %

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 firm has a market cap of $1.44 billion, a PE ratio of -120.51 and a beta of 0.56. The stock has a fifty day simple moving average of $66.86 and a two-hundred day simple moving average of $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.