ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Up – Here’s Why

Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) gapped up before the market opened on Tuesday . The stock had previously closed at $74.21, but opened at $76.84. ANI Pharmaceuticals shares last traded at $77.7520, with a volume of 7,323 shares.

Analyst Upgrades and Downgrades

ANIP has been the topic of a number of recent analyst reports. Guggenheim upped their target price on ANI Pharmaceuticals from $115.00 to $124.00 and gave the company a “buy” rating in a report on Friday, January 16th. Barclays began coverage on ANI Pharmaceuticals in a research report on Tuesday, December 9th. They issued an “overweight” rating and a $100.00 price target for the company. Wall Street Zen cut ANI Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “hold (c+)” rating on shares of ANI Pharmaceuticals in a research report on Monday, December 29th. Finally, Zacks Research cut ANI Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.33.

ANI Pharmaceuticals Trading Up 2.7%

The firm has a market cap of $1.78 billion, a PE ratio of 23.58 and a beta of 0.44. The business has a 50-day moving average price of $76.52 and a two-hundred day moving average price of $82.82. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.71 and a quick ratio of 2.19.

Insider Buying and Selling at ANI Pharmaceuticals

In related news, CFO Stephen P. Carey sold 7,312 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $75.50, for a total transaction of $552,056.00. Following the sale, the chief financial officer owned 185,543 shares of the company’s stock, valued at $14,008,496.50. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Mutz sold 3,162 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $71.64, for a total value of $226,525.68. Following the sale, the insider directly owned 91,309 shares in the company, valued at approximately $6,541,376.76. The trade was a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 27,860 shares of company stock valued at $2,114,771. 11.10% of the stock is owned by company insiders.

Institutional Trading of ANI Pharmaceuticals

A number of large investors have recently made changes to their positions in ANIP. Advisors Asset Management Inc. acquired a new stake in shares of ANI Pharmaceuticals during the first quarter valued at $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ANI Pharmaceuticals by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,993 shares of the specialty pharmaceutical company’s stock valued at $736,000 after acquiring an additional 470 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of ANI Pharmaceuticals by 0.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 48,322 shares of the specialty pharmaceutical company’s stock valued at $3,235,000 after acquiring an additional 423 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of ANI Pharmaceuticals during the first quarter valued at $2,706,000. Finally, Rhumbline Advisers boosted its stake in shares of ANI Pharmaceuticals by 1.6% during the second quarter. Rhumbline Advisers now owns 41,981 shares of the specialty pharmaceutical company’s stock valued at $2,739,000 after acquiring an additional 658 shares during the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc is a United States–based specialty pharmaceutical company focused on the development, manufacturing and commercialization of generic and branded prescription drugs. The company operates as an end-to-end provider, offering services that range from active pharmaceutical ingredient (API) production and formulation development to finished dosage form manufacturing and packaging.

ANI’s product portfolio encompasses injectable and oral therapies across several therapeutic areas, including endocrinology, oncology, pain management and respiratory care.