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

ANI Pharmaceuticals (NASDAQ:ANIP) had its price target raised by Raymond James from $81.00 to $83.00 in a report released on Wednesday, Benzinga reports. Raymond James currently has an outperform rating on the specialty pharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on ANIP. Truist Financial reaffirmed a hold rating and issued a $60.00 price objective (down from $80.00) on shares of ANI Pharmaceuticals in a research note on Wednesday, September 11th. StockNews.com cut ANI Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, September 7th. Finally, HC Wainwright reaffirmed a buy rating and issued a $94.00 price objective 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $78.80.

ANI Pharmaceuticals Stock Performance

NASDAQ ANIP opened at $59.66 on Wednesday. The company has a market cap of $1.25 billion, a PE ratio of 37.29 and a beta of 0.71. The stock’s 50 day simple moving average is $61.07 and its 200-day simple moving average is $63.71. ANI Pharmaceuticals has a 1-year low of $48.20 and a 1-year high of $70.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.97 and a quick ratio of 3.07.

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

Insider Buying and Selling

In related news, SVP Chad Gassert sold 20,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $63.44, for a total transaction of $1,268,800.00. Following the completion of the transaction, the senior vice president now directly owns 193,226 shares of the company’s stock, valued at approximately $12,258,257.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 14,257 shares of ANI Pharmaceuticals stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $63.16, for a total transaction of $900,472.12. Following the completion of the sale, the chief operating officer now directly owns 635,363 shares of the company’s stock, valued at approximately $40,129,527.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $63.44, for a total value of $1,268,800.00. Following the sale, the senior vice president now directly owns 193,226 shares of the company’s stock, valued at $12,258,257.44. The disclosure for this sale can be found here. Insiders sold 46,007 shares of company stock valued at $2,911,790 in the last three months. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of ANI Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of ANI Pharmaceuticals in the 2nd quarter valued at about $65,000. Ridgewood Investments LLC purchased a new stake in shares of ANI Pharmaceuticals in the 2nd quarter valued at about $85,000. SG Americas Securities LLC purchased a new stake in shares of ANI Pharmaceuticals in the 1st quarter valued at about $106,000. ADAR1 Capital Management LLC purchased a new stake in shares of ANI Pharmaceuticals in the 4th quarter valued at about $132,000. Finally, Clear Street Markets LLC purchased a new stake in shares of ANI Pharmaceuticals in the 4th quarter valued at about $140,000. 76.05% of the stock is 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.