JPMorgan Chase & Co. Begins Coverage on ANI Pharmaceuticals (NASDAQ:ANIP)

JPMorgan Chase & Co. began coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a report issued on Wednesday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $85.00 price target on the specialty pharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 38.30% from the stock’s current price.

Several other analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, March 3rd. Guggenheim upped their price target on shares of ANI Pharmaceuticals from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Leerink Partnrs upgraded shares of ANI Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, December 11th. Leerink Partners initiated coverage on shares of ANI Pharmaceuticals in a research report on Wednesday, December 11th. They set an “outperform” rating and a $80.00 price target for the company. Finally, StockNews.com lowered shares of ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.75.

ANI Pharmaceuticals Stock Performance

NASDAQ ANIP opened at $61.46 on Wednesday. The company has a 50-day simple moving average of $58.14 and a two-hundred day simple moving average of $58.11. 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 firm has a market cap of $1.34 billion, a price-to-earnings ratio of -111.75 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 firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Krista Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $60.20, for a total transaction of $60,200.00. Following the transaction, the senior vice president now directly owns 68,624 shares of the company’s stock, valued at $4,131,164.80. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,300 shares of company stock worth $584,869 over the last three months. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ANIP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ANI Pharmaceuticals by 41.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 47,899 shares of the specialty pharmaceutical company’s stock valued at $2,648,000 after acquiring an additional 13,948 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in shares of ANI Pharmaceuticals during the fourth quarter valued at approximately $1,128,000. Rafferty Asset Management LLC bought a new stake in shares of ANI Pharmaceuticals during the fourth quarter valued at approximately $200,000. ProShare Advisors LLC increased its position in shares of ANI Pharmaceuticals by 29.0% during the fourth quarter. ProShare Advisors LLC now owns 6,532 shares of the specialty pharmaceutical company’s stock valued at $361,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Nomura Holdings Inc. increased its position in shares of ANI Pharmaceuticals by 1.5% during the fourth quarter. Nomura Holdings Inc. now owns 213,879 shares of the specialty pharmaceutical company’s stock valued at $11,823,000 after acquiring an additional 3,255 shares in the last quarter. Institutional investors own 76.05% of the company’s stock.

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.