ANI Pharmaceuticals (NASDAQ:ANIP) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of ANI Pharmaceuticals (NASDAQ:ANIP) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other research firms also recently weighed in on ANIP. HC Wainwright reaffirmed a “buy” rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partnrs raised shares of ANI Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, December 11th. Guggenheim upped their price target on shares of ANI Pharmaceuticals from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Leerink Partners started coverage on shares of ANI Pharmaceuticals in a research note on Wednesday, December 11th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of ANI Pharmaceuticals in a research note on Wednesday. They issued an “overweight” rating and a $85.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.78.

ANI Pharmaceuticals Price Performance

Shares of NASDAQ:ANIP opened at $62.49 on Friday. The company’s fifty day moving average is $58.26 and its two-hundred day moving average is $58.13. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52. ANI Pharmaceuticals has a 12-month low of $52.50 and a 12-month high of $70.81. The company has a market cap of $1.36 billion, a P/E ratio of -113.62 and a beta of 0.62.

Insiders Place Their Bets

In other ANI Pharmaceuticals news, CFO Stephen P. Carey sold 7,500 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.79, for a total transaction of $418,425.00. Following the transaction, the chief financial officer now directly owns 154,468 shares of the company’s stock, valued at $8,617,769.72. This represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Meredith Cook sold 400 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $63.33, for a total transaction of $25,332.00. Following the sale, the vice president now owns 80,545 shares of the company’s stock, valued at $5,100,914.85. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,700 shares of company stock valued at $610,201 over the last three months. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ANIP. Pacer Advisors Inc. boosted its holdings in ANI Pharmaceuticals by 23,259.8% during the third quarter. Pacer Advisors Inc. now owns 568,343 shares of the specialty pharmaceutical company’s stock valued at $33,907,000 after acquiring an additional 565,910 shares during the period. Millennium Management LLC boosted its holdings in ANI Pharmaceuticals by 89.3% during the fourth 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. JPMorgan Chase & Co. boosted its holdings in ANI Pharmaceuticals by 159.3% during the third quarter. JPMorgan Chase & Co. now owns 554,835 shares of the specialty pharmaceutical company’s stock valued at $33,101,000 after acquiring an additional 340,854 shares during the period. abrdn plc bought a new stake in ANI Pharmaceuticals during the fourth quarter valued at about $13,155,000. Finally, Bank of Montreal Can bought a new stake in ANI Pharmaceuticals during the third quarter valued at about $13,043,000. 76.05% of the stock is currently owned by institutional investors.

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.