ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up Following Better-Than-Expected Earnings

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $54.58, but opened at $61.64. ANI Pharmaceuticals shares last traded at $61.02, with a volume of 62,223 shares.

The specialty pharmaceutical company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.22. The business had revenue of $190.60 million during the quarter, compared to analyst estimates of $175.36 million. ANI Pharmaceuticals had a positive return on equity of 15.87% and a negative net margin of 1.28%. ANI Pharmaceuticals’s revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Leerink Partnrs upgraded shares of ANI Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 price objective on shares of ANI Pharmaceuticals in a report on Monday, November 11th. Leerink Partners initiated coverage on ANI Pharmaceuticals in a report on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 target price on the stock. Finally, StockNews.com upgraded ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ANI Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $77.71.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, SVP Krista Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $60.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 49,059 shares in the company, valued at $2,943,540. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephen P. Carey sold 7,500 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 154,468 shares of the company’s stock, valued at approximately $8,617,769.72. This trade represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,300 shares of company stock worth $584,009 over the last quarter. 12.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several large investors have recently made changes to their positions in ANIP. Millennium Management LLC raised its stake in ANI Pharmaceuticals by 89.3% during 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 purchasing an additional 473,097 shares during the period. State Street Corp boosted its position in shares of ANI Pharmaceuticals by 9.1% during the third quarter. State Street Corp now owns 703,843 shares of the specialty pharmaceutical company’s stock worth $41,991,000 after acquiring an additional 58,698 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in ANI Pharmaceuticals by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 685,730 shares of the specialty pharmaceutical company’s stock valued at $37,906,000 after acquiring an additional 30,420 shares during the last quarter. Deep Track Capital LP lifted its stake in ANI Pharmaceuticals by 28.6% in the 4th quarter. Deep Track Capital LP now owns 649,042 shares of the specialty pharmaceutical company’s stock worth $35,879,000 after purchasing an additional 144,214 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. increased its holdings in shares of ANI Pharmaceuticals by 16.4% in 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 during the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

ANI Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.97 and a current ratio of 2.74. The firm has a fifty day simple moving average of $57.06 and a two-hundred day simple moving average of $58.13. The firm has a market cap of $1.28 billion, a PE ratio of -110.83 and a beta of 0.74.

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.