ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up – Time to Buy?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) shares gapped up before the market opened on Friday . The stock had previously closed at $58.38, but opened at $61.58. ANI Pharmaceuticals shares last traded at $60.38, with a volume of 39,524 shares traded.

Analyst Ratings Changes

ANIP has been the topic of several research reports. StockNews.com cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. HC Wainwright restated a “buy” rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research report on Tuesday, September 17th. Raymond James lifted their target price on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Truist Financial lifted their target price on shares of ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler assumed coverage on shares of ANI Pharmaceuticals in a report on Friday, October 11th. They issued an “overweight” rating and a $68.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.33.

ANI Pharmaceuticals Stock Up 4.4 %

The company has a current ratio of 3.97, a quick ratio of 3.07 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 49.90 and a beta of 0.71. The firm’s 50 day simple moving average is $58.70 and its 200-day simple moving average is $61.58.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.95 by $0.07. The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $129.09 million. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. On average, sell-side analysts anticipate that ANI Pharmaceuticals, Inc. will post 3.5 EPS for the current fiscal year.

Institutional Investors Weigh In On ANI Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ANIP. Innealta Capital LLC purchased a new position in ANI Pharmaceuticals in the 2nd quarter valued at about $65,000. Ridgewood Investments LLC acquired a new stake in ANI Pharmaceuticals during the 2nd quarter worth approximately $85,000. SG Americas Securities LLC acquired a new stake in ANI Pharmaceuticals during the 1st quarter worth approximately $106,000. XTX Topco Ltd acquired a new stake in ANI Pharmaceuticals during the 2nd quarter worth approximately $207,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in ANI Pharmaceuticals in the first quarter valued at approximately $218,000. 76.05% of the stock is currently owned by hedge funds and other 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.