ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price Up 3.1% – Here’s What Happened

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) traded up 3.1% during trading on Wednesday . The stock traded as high as $67.95 and last traded at $68.41. 31,236 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 242,756 shares. The stock had previously closed at $66.33.

Analysts Set New Price Targets

A number of research firms have weighed in on ANIP. Leerink Partners began coverage on shares of ANI Pharmaceuticals in a research report on Wednesday, December 11th. They set an “outperform” rating and a $80.00 price objective for the company. StockNews.com raised shares of ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. JPMorgan Chase & Co. started coverage on ANI Pharmaceuticals in a research note on Wednesday, March 12th. They set an “overweight” rating and a $85.00 price objective for the company. Jefferies Financial Group assumed coverage on ANI Pharmaceuticals in a report on Friday, March 14th. They set a “buy” rating and a $80.00 target price for the company. Finally, Guggenheim lifted their price target on ANI Pharmaceuticals from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.75.

ANI Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.52, a current ratio of 2.74 and a quick ratio of 1.97. The stock’s fifty day moving average is $59.88 and its 200-day moving average is $58.18. The stock has a market cap of $1.47 billion, a PE ratio of -122.46 and a beta of 0.63.

Insider Activity

In other ANI Pharmaceuticals news, SVP Krista Davis sold 1,000 shares of ANI Pharmaceuticals stock in a transaction on Friday, March 7th. The stock was sold at an average price of $60.86, for a total value of $60,860.00. Following the sale, the senior vice president now owns 66,525 shares in the company, valued at $4,048,711.50. The trade was a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Meredith Cook sold 400 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $63.33, for a total value of $25,332.00. Following the transaction, the vice president now owns 80,545 shares of the company’s stock, valued at approximately $5,100,914.85. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,200 shares of company stock valued at $191,776 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ANIP. Millennium Management LLC raised its stake in shares of ANI Pharmaceuticals by 89.3% in the 4th quarter. Millennium Management LLC now owns 1,002,849 shares of the specialty pharmaceutical company’s stock valued at $55,437,000 after acquiring an additional 473,097 shares during the period. State Street Corp increased its holdings in ANI Pharmaceuticals by 9.1% in the 3rd quarter. State Street Corp now owns 703,843 shares of the specialty pharmaceutical company’s stock valued at $41,991,000 after purchasing an additional 58,698 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ANI Pharmaceuticals by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company’s stock valued at $37,906,000 after purchasing an additional 30,420 shares during the period. Deep Track Capital LP raised its position in ANI Pharmaceuticals by 28.6% in the fourth quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company’s stock valued at $35,879,000 after purchasing an additional 144,214 shares during the period. Finally, Global Alpha Capital Management Ltd. lifted its stake in ANI Pharmaceuticals by 16.4% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 624,550 shares of the specialty pharmaceutical company’s stock worth $34,525,000 after purchasing an additional 88,100 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

ANI Pharmaceuticals Company Profile

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.