Zacks Investment Research Downgrades ANI Pharmaceuticals (NASDAQ:ANIP) to Hold

Zacks Investment Research downgraded shares of ANI Pharmaceuticals (NASDAQ:ANIP) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “ANI Pharmaceuticals, Inc. is a specialty pharmaceutical company. It engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The company offers liquid, powder, oral solid dose, cough/cold products, antacids, laxatives, stomach remedies as well as hydrocortisone retention enema, esterified estrogen and methyltestosterone, fluvoxamine maleate tablets, hydrocortisone rectal suspension, metoclopramide oral solution, opium tincture and metoclopramide tablets. In addition, it offers contract manufacturing services for other pharmaceutical companies. The company serves through wholesalers, smaller regional distributors and chains and pharmacy and retail outlets primarily in the United States. ANI Pharmaceuticals, Inc., formerly known as BioSante Pharmaceuticals, Inc., is headquartered in Baudette, MN. “

Other analysts also recently issued research reports about the company. ValuEngine upgraded ANI Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, June 21st. Canaccord Genuity restated a buy rating and set a $90.00 target price (up previously from $80.00) on shares of ANI Pharmaceuticals in a research note on Monday, May 13th. Cantor Fitzgerald restated a buy rating and set a $89.00 target price on shares of ANI Pharmaceuticals in a research note on Thursday, May 9th. Raymond James downgraded ANI Pharmaceuticals from a strong-buy rating to an outperform rating and increased their target price for the company from $73.00 to $82.00 in a research note on Friday, May 10th. Finally, BidaskClub upgraded ANI Pharmaceuticals from a hold rating to a buy rating in a research note on Saturday, July 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $89.00.

Shares of ANIP traded down $0.15 during trading hours on Wednesday, hitting $84.33. 81,272 shares of the company were exchanged, compared to its average volume of 125,776. The company has a market capitalization of $1.02 billion, a P/E ratio of 18.05 and a beta of 2.17. The company’s 50 day simple moving average is $80.46. ANI Pharmaceuticals has a 52 week low of $36.92 and a 52 week high of $86.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 0.92.

ANI Pharmaceuticals (NASDAQ:ANIP) last released its quarterly earnings results on Thursday, May 9th. The specialty pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.25. The company had revenue of $52.90 million during the quarter, compared to the consensus estimate of $50.57 million. ANI Pharmaceuticals had a return on equity of 28.63% and a net margin of 6.58%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 EPS. On average, equities analysts expect that ANI Pharmaceuticals will post 5.57 earnings per share for the current year.

In related news, Director David Nash bought 1,445 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average cost of $68.76 per share, with a total value of $99,358.20. Following the acquisition, the director now owns 5,236 shares in the company, valued at approximately $360,027.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Haughey bought 2,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $69.30 per share, with a total value of $173,250.00. Following the completion of the acquisition, the director now owns 6,291 shares in the company, valued at approximately $435,966.30. The disclosure for this purchase can be found here. Over the last three months, insiders sold 50,911 shares of company stock valued at $3,585,114. 24.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Global Alpha Capital Management Ltd. acquired a new stake in ANI Pharmaceuticals during the 1st quarter valued at $6,808,000. SG Americas Securities LLC increased its holdings in ANI Pharmaceuticals by 1,954.0% during the 1st quarter. SG Americas Securities LLC now owns 67,904 shares of the specialty pharmaceutical company’s stock valued at $4,790,000 after purchasing an additional 64,598 shares in the last quarter. LSV Asset Management increased its holdings in ANI Pharmaceuticals by 28.0% during the 1st quarter. LSV Asset Management now owns 81,785 shares of the specialty pharmaceutical company’s stock valued at $5,769,000 after purchasing an additional 17,885 shares in the last quarter. Globeflex Capital L P increased its holdings in ANI Pharmaceuticals by 179.8% during the 1st quarter. Globeflex Capital L P now owns 27,702 shares of the specialty pharmaceutical company’s stock valued at $1,954,000 after purchasing an additional 17,802 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in ANI Pharmaceuticals during the 4th quarter valued at $656,000. 64.04% of the stock is owned by institutional investors and hedge funds.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. It focuses on producing controlled substances, oncolytics (anti-cancers), hormones and steroids, and other formulations. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract manufacturing for other pharmaceutical companies.

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