ANI Pharmaceuticals (NASDAQ:ANIP) Shares Up 5.6%

ANI Pharmaceuticals Inc (NASDAQ:ANIP) shot up 5.6% during mid-day trading on Friday . The company traded as high as $77.46 and last traded at $76.53, 319,100 shares changed hands during mid-day trading. An increase of 160% from the average session volume of 122,497 shares. The stock had previously closed at $72.48.

A number of brokerages have issued reports on ANIP. BidaskClub cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Zacks Investment Research raised shares of ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday. Guggenheim began coverage on shares of ANI Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $76.00 target price on the stock. Finally, ValuEngine cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $86.40.

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 0.74. The stock’s fifty day simple moving average is $71.95 and its 200-day simple moving average is $71.58. The stock has a market cap of $873.62 million, a P/E ratio of 16.60 and a beta of 2.22.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its earnings results on Wednesday, August 7th. The specialty pharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.26. The firm had revenue of $54.36 million for the quarter, compared to analysts’ expectations of $55.20 million. ANI Pharmaceuticals had a net margin of 8.14% and a return on equity of 29.53%. ANI Pharmaceuticals’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. Analysts forecast that ANI Pharmaceuticals Inc will post 5.29 EPS for the current year.

In other news, major shareholder Meridian Venture Partners Ii L sold 19,860 shares of ANI Pharmaceuticals stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $71.70, for a total transaction of $1,423,962.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 98,451 shares of company stock worth $7,006,801. Corporate insiders own 24.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in shares of ANI Pharmaceuticals by 3.4% during the first quarter. New York State Common Retirement Fund now owns 23,494 shares of the specialty pharmaceutical company’s stock valued at $1,657,000 after buying an additional 780 shares during the last quarter. THB Asset Management raised its holdings in shares of ANI Pharmaceuticals by 251.2% during the second quarter. THB Asset Management now owns 89,305 shares of the specialty pharmaceutical company’s stock valued at $7,340,000 after buying an additional 63,874 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of ANI Pharmaceuticals during the second quarter valued at approximately $211,000. Wedge Capital Management L L P NC raised its holdings in shares of ANI Pharmaceuticals by 8.6% during the second quarter. Wedge Capital Management L L P NC now owns 7,386 shares of the specialty pharmaceutical company’s stock valued at $607,000 after buying an additional 586 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of ANI Pharmaceuticals during the first quarter valued at approximately $797,000. 70.76% of the stock is currently owned by institutional investors.

ANI Pharmaceuticals Company Profile (NASDAQ:ANIP)

ANI Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. It focuses on producing controlled substances, oncolytics (anti-cancers), hormones and steroids, and other formulations. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract manufacturing for other pharmaceutical companies.

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