ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price Down 3% Following Insider Selling

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price was down 3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $60.66 and last traded at $60.74. Approximately 44,865 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 147,031 shares. The stock had previously closed at $62.64.

Specifically, SVP Chad Gassert sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $66.62, for a total value of $1,332,400.00. Following the completion of the transaction, the senior vice president now directly owns 233,226 shares in the company, valued at approximately $15,537,516.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Chad Gassert sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $66.62, for a total value of $1,332,400.00. Following the completion of the transaction, the senior vice president now owns 233,226 shares of the company’s stock, valued at approximately $15,537,516.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Muthusamy Shanmugam sold 16,809 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $65.17, for a total value of $1,095,442.53. Following the completion of the sale, the chief operating officer now directly owns 782,620 shares in the company, valued at $51,003,345.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,688 shares of company stock worth $11,332,663. Insiders own 12.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ANIP. Guggenheim reissued a “buy” rating and set a $77.00 target price on shares of ANI Pharmaceuticals in a research note on Tuesday, April 23rd. HC Wainwright increased their target price on ANI Pharmaceuticals from $87.00 to $94.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Capital One Financial started coverage on ANI Pharmaceuticals in a research note on Friday, March 15th. They issued an “overweight” rating and a $80.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ANI Pharmaceuticals currently has an average rating of “Buy” and an average price target of $82.75.

ANI Pharmaceuticals Stock Down 2.9 %

The firm has a market capitalization of $1.28 billion, a PE ratio of 39.15 and a beta of 0.75. The company has a quick ratio of 3.12, a current ratio of 3.95 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $64.10 and a 200-day moving average price of $61.97.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings results on Friday, May 10th. The specialty pharmaceutical company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.16. ANI Pharmaceuticals had a net margin of 6.87% and a return on equity of 17.15%. The firm had revenue of $137.43 million for the quarter, compared to analysts’ expectations of $125.01 million. Equities research analysts forecast that ANI Pharmaceuticals, Inc. will post 3.32 earnings per share for the current fiscal year.

Institutional Trading of ANI Pharmaceuticals

Several institutional investors have recently made changes to their positions in ANIP. Boston Partners purchased a new position in ANI Pharmaceuticals during the first quarter worth about $606,000. Hancock Whitney Corp acquired a new stake in ANI Pharmaceuticals in the 1st quarter valued at approximately $360,000. California State Teachers Retirement System raised its position in ANI Pharmaceuticals by 1.5% in the first quarter. California State Teachers Retirement System now owns 16,175 shares of the specialty pharmaceutical company’s stock valued at $1,118,000 after purchasing an additional 233 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in ANI Pharmaceuticals in the first quarter valued at approximately $289,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of ANI Pharmaceuticals by 7.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 13,036 shares of the specialty pharmaceutical company’s stock worth $900,000 after buying an additional 909 shares during the period. Hedge funds and other 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.