Raymond James Increases ANI Pharmaceuticals (NASDAQ:ANIP) Price Target to $83.00

ANI Pharmaceuticals (NASDAQ:ANIP) had its target price upped by stock analysts at Raymond James from $81.00 to $83.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the specialty pharmaceutical company’s stock. Raymond James’ price target would suggest a potential upside of 34.67% from the company’s previous close.

A number of other brokerages have also recently issued reports on ANIP. Truist Financial reissued a “hold” rating and set a $60.00 target price (down previously from $80.00) on shares of ANI Pharmaceuticals in a report on Wednesday, September 11th. StockNews.com lowered ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. Finally, HC Wainwright restated a “buy” rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.80.

ANI Pharmaceuticals Stock Performance

ANI Pharmaceuticals stock traded up $1.57 during midday trading on Wednesday, reaching $61.63. The stock had a trading volume of 89,287 shares, compared to its average volume of 205,818. The firm has a market capitalization of $1.29 billion, a PE ratio of 38.62 and a beta of 0.71. ANI Pharmaceuticals has a 12 month low of $48.20 and a 12 month high of $70.81. The company has a quick ratio of 3.07, a current ratio of 3.97 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $61.25 and its 200 day moving average price is $63.80.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.07. The firm had revenue of $138.00 million during the quarter, compared to the consensus estimate of $129.09 million. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. As a group, research analysts predict that ANI Pharmaceuticals will post 3.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Muthusamy Shanmugam sold 11,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $63.38, for a total transaction of $697,180.00. Following the completion of the transaction, the chief operating officer now directly owns 671,620 shares in the company, valued at $42,567,275.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Chad Gassert sold 20,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $63.44, for a total value of $1,268,800.00. Following the transaction, the senior vice president now owns 193,226 shares of the company’s stock, valued at approximately $12,258,257.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Muthusamy Shanmugam sold 11,000 shares of ANI Pharmaceuticals stock in a transaction on Monday, July 15th. The stock was sold at an average price of $63.38, for a total transaction of $697,180.00. Following the sale, the chief operating officer now directly owns 671,620 shares of the company’s stock, valued at $42,567,275.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,007 shares of company stock worth $4,089,790. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ANIP. Rubric Capital Management LP boosted its holdings in shares of ANI Pharmaceuticals by 32.8% in the 4th quarter. Rubric Capital Management LP now owns 1,125,000 shares of the specialty pharmaceutical company’s stock worth $62,032,000 after purchasing an additional 277,989 shares in the last quarter. Millennium Management LLC lifted its position in ANI Pharmaceuticals by 1,005.8% in the 2nd quarter. Millennium Management LLC now owns 230,079 shares of the specialty pharmaceutical company’s stock worth $14,651,000 after buying an additional 209,272 shares during the last quarter. American Century Companies Inc. boosted its stake in ANI Pharmaceuticals by 99.2% in the second quarter. American Century Companies Inc. now owns 99,831 shares of the specialty pharmaceutical company’s stock worth $6,357,000 after buying an additional 49,717 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ANI Pharmaceuticals by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 591,731 shares of the specialty pharmaceutical company’s stock valued at $32,628,000 after acquiring an additional 33,359 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of ANI Pharmaceuticals during the first quarter worth approximately $2,218,000. 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.