ANI Pharmaceuticals (NASDAQ:ANIP) Price Target Raised to $115.00 at JPMorgan Chase & Co.

ANI Pharmaceuticals (NASDAQ:ANIP) had its price objective upped by JPMorgan Chase & Co. from $95.00 to $115.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the specialty pharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on the company. HC Wainwright raised their price objective on ANI Pharmaceuticals from $93.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Wall Street Zen raised shares of ANI Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 16th. Guggenheim boosted their price objective on shares of ANI Pharmaceuticals from $86.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Zacks Research raised shares of ANI Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $97.29.

ANI Pharmaceuticals Stock Performance

ANI Pharmaceuticals stock opened at $94.99 on Wednesday. ANI Pharmaceuticals has a fifty-two week low of $52.50 and a fifty-two week high of $99.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The stock has a market cap of $2.06 billion, a P/E ratio of -123.36 and a beta of 0.63. The firm’s fifty day moving average price is $84.52 and its 200-day moving average price is $71.71.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its earnings results on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.38. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The company had revenue of $211.37 million during the quarter, compared to analyst estimates of $187.18 million. During the same period in the previous year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was up 53.2% compared to the same quarter last year. On average, equities research analysts expect that ANI Pharmaceuticals will post 3.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 52,990 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $87.15, for a total transaction of $4,618,078.50. Following the completion of the sale, the chief operating officer owned 531,920 shares of the company’s stock, valued at $46,356,828. This represents a 9.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeanne Thoma sold 21,540 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $89.15, for a total transaction of $1,920,291.00. Following the completion of the sale, the director directly owned 23,405 shares in the company, valued at approximately $2,086,555.75. This trade represents a 47.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 413,830 shares of company stock valued at $36,495,294 over the last quarter. Company insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ANIP. Texas Permanent School Fund Corp lifted its holdings in ANI Pharmaceuticals by 125.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 18,314 shares of the specialty pharmaceutical company’s stock worth $1,195,000 after buying an additional 10,186 shares during the period. Squarepoint Ops LLC bought a new position in shares of ANI Pharmaceuticals during the second quarter valued at approximately $2,137,000. Thrivent Financial for Lutherans lifted its stake in ANI Pharmaceuticals by 2.6% in the second quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the specialty pharmaceutical company’s stock worth $816,000 after acquiring an additional 321 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in ANI Pharmaceuticals by 200.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company’s stock worth $39,000 after acquiring an additional 400 shares during the period. Finally, State of Wyoming bought a new stake in ANI Pharmaceuticals in the second quarter valued at $50,000. Hedge funds and other 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.