ANI Pharmaceuticals (NASDAQ:ANIP) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of ANI Pharmaceuticals (NASDAQ:ANIP) in a report released on Wednesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $85.00 price target on the specialty pharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. Leerink Partners initiated coverage on shares of ANI Pharmaceuticals in a research note on Wednesday, December 11th. They set an “outperform” rating and a $80.00 target price for the company. Leerink Partnrs raised ANI Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, December 11th. Guggenheim upped their target price on ANI Pharmaceuticals from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. StockNews.com downgraded ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Finally, HC Wainwright restated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.78.

ANI Pharmaceuticals Stock Performance

NASDAQ:ANIP opened at $62.49 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.97 and a current ratio of 2.74. ANI Pharmaceuticals has a fifty-two week low of $52.50 and a fifty-two week high of $70.81. The company has a 50 day simple moving average of $58.26 and a two-hundred day simple moving average of $58.13. The company has a market capitalization of $1.36 billion, a PE ratio of -113.62 and a beta of 0.62.

Insider Activity at ANI Pharmaceuticals

In other news, SVP Krista Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $60.20, for a total value of $60,200.00. Following the transaction, the senior vice president now owns 68,624 shares in the company, valued at $4,131,164.80. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen P. Carey sold 7,500 shares of ANI Pharmaceuticals stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $55.79, for a total value of $418,425.00. Following the transaction, the chief financial officer now directly owns 154,468 shares in the company, valued at approximately $8,617,769.72. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,700 shares of company stock valued at $610,201. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Large investors have recently bought and sold shares of the stock. US Bancorp DE raised its holdings in shares of ANI Pharmaceuticals by 842.9% in the fourth quarter. US Bancorp DE now owns 594 shares of the specialty pharmaceutical company’s stock valued at $33,000 after purchasing an additional 531 shares during the last quarter. KBC Group NV increased its stake in ANI Pharmaceuticals by 89.2% in the 4th quarter. KBC Group NV now owns 1,273 shares of the specialty pharmaceutical company’s stock valued at $70,000 after buying an additional 600 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of ANI Pharmaceuticals during the 4th quarter worth approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ANI Pharmaceuticals by 24.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,971 shares of the specialty pharmaceutical company’s stock worth $177,000 after buying an additional 579 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of ANI Pharmaceuticals in the 4th quarter worth approximately $200,000. 76.05% of the stock is currently owned by institutional investors.

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.