JPMorgan Chase & Co. Begins Coverage on ANI Pharmaceuticals (NASDAQ:ANIP)

JPMorgan Chase & Co. started coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $85.00 price target on the specialty pharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 38.30% from the company’s previous close.

A number of other research firms also recently commented on ANIP. StockNews.com downgraded shares of ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Monday, March 3rd. Guggenheim lifted their target price on shares of ANI Pharmaceuticals from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Leerink Partners started coverage on shares of ANI Pharmaceuticals in a report on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of ANI Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ANI Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $79.75.

ANI Pharmaceuticals Trading Down 2.8 %

NASDAQ:ANIP opened at $61.46 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 1.52. ANI Pharmaceuticals has a 12 month low of $52.50 and a 12 month high of $70.81. The company has a market cap of $1.34 billion, a PE ratio of -111.75 and a beta of 0.62. The company has a 50 day simple moving average of $58.14 and a two-hundred day simple moving average of $58.11.

Insider Buying and Selling

In other ANI Pharmaceuticals news, SVP Krista Davis sold 1,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $60.86, for a total value of $60,860.00. Following the transaction, the senior vice president now directly owns 66,525 shares in the company, valued at $4,048,711.50. This represents a 1.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen P. Carey sold 7,500 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.79, for a total transaction of $418,425.00. Following the completion of the transaction, the chief financial officer now owns 154,468 shares in the company, valued at $8,617,769.72. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,300 shares of company stock valued at $584,869 in the last ninety days. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ANIP. US Bancorp DE boosted its stake in ANI Pharmaceuticals by 842.9% in the fourth quarter. US Bancorp DE now owns 594 shares of the specialty pharmaceutical company’s stock valued at $33,000 after acquiring an additional 531 shares in the last quarter. KBC Group NV raised its holdings in shares of ANI Pharmaceuticals by 89.2% in the fourth quarter. KBC Group NV now owns 1,273 shares of the specialty pharmaceutical company’s stock worth $70,000 after buying an additional 600 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of ANI Pharmaceuticals in the fourth quarter worth $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ANI Pharmaceuticals by 24.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock worth $177,000 after purchasing an additional 579 shares during the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of ANI Pharmaceuticals during the fourth quarter worth $200,000. 76.05% of the stock is currently owned by institutional investors.

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.