ANI Pharmaceuticals (NASDAQ:ANIP) Shares Gap Down – Should You Sell?

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $57.86, but opened at $56.00. ANI Pharmaceuticals shares last traded at $56.00, with a volume of 17,753 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of ANI Pharmaceuticals from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. HC Wainwright reissued a “buy” rating and issued a $94.00 price target on shares of ANI Pharmaceuticals in a research report on Monday, November 11th. Piper Sandler began coverage on shares of ANI Pharmaceuticals in a research report on Friday, October 11th. They issued an “overweight” rating and a $68.00 price target for the company. StockNews.com cut shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. Finally, Raymond James boosted their price target on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.33.

ANI Pharmaceuticals Stock Up 1.8 %

The business’s fifty day moving average price is $58.32 and its 200 day moving average price is $60.76. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $1.24 billion, a PE ratio of -105.20 and a beta of 0.71.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its earnings results on Friday, November 8th. The specialty pharmaceutical company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25. The business had revenue of $148.30 million during the quarter, compared to analysts’ expectations of $144.37 million. ANI Pharmaceuticals had a negative net margin of 1.28% and a positive return on equity of 15.87%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. On average, equities research analysts forecast that ANI Pharmaceuticals, Inc. will post 3.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in ANI Pharmaceuticals during the second quarter worth about $65,000. Ridgewood Investments LLC purchased a new position in ANI Pharmaceuticals during the second quarter worth about $85,000. SG Americas Securities LLC purchased a new position in ANI Pharmaceuticals during the first quarter worth about $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ANI Pharmaceuticals by 24.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock valued at $177,000 after buying an additional 579 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in ANI Pharmaceuticals in the second quarter valued at about $207,000. 76.05% of the stock is owned by hedge funds and other 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.