Deerfield Management Discloses New Position in ANI Pharmaceuticals Inc (ANIP)

James E. Flynn‘s Deerfield Management reported a new stake in ANI Pharmaceuticals Inc (NASDAQ:ANIP). With nearly 660,000 shares in ANI, the fund now owns 5.85% of the company’s aggregate common stock outstanding, according to a recent 13G filing with the Securities and Exchange Commission.

ANI Pharmaceuticals

Incorporated in 11, 2001, ANI Pharmaceuticals Inc (NASDAQ:ANIP) is an emerging integrated specialty pharmaceutical company which develops, manufactures, and markets branded and generic prescription pharmaceuticals made in the US. The company also performs contract manufacturing for some of the largest pharmaceutical companies in the world. Last month, the company announced the closing of its seasoned public offering, in which it has issued 1.62 million shares of common stock, at a price of $31.00 per share, grossing $50.00 million of equity capital.

In its financial results for 2013, ANI highlighted that it reached record net revenues of $10.50 million in the fourth quarter of the year, generating $30.00 million revenues, but $0.92 net losses for the full last year. In 2014, the company is expected to perform significantly better, with consensus estimates settling around net profits of $1.30 per share. On average, analysts suggest that investors buy shares of ANI Pharmaceuticals Inc (NASDAQ:ANIP), setting a target price of $38.00 per share, compared to the current price of around $30.50.

Healthcare focused investment fund, Deerfield Management, owns an equity portfolio valued at nearly $2.00 billion and invested almost entirely (around 97.00%) in the Healthcare Sector. Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) represents the largest share in the fund’s equity portfolio, the fund holding a position of more than 4.10 million shares in the company. Deerfield also owns large positions in Questcor Pharmaceuticals Inc (NASDAQ:QCOR) and Array Biopharma Inc (NASDAQ:ARRY), with the respective amounts of 1.50 million and 11.25 million shares.

Earlier in April, Deerfield Management revealed a stake in the newly public Trivascular Technologies Inc (NASDAQ:TRIV), which started trading the same day. Shortly afterwards, the fund raised its position to 1.70 million shares from the previously held 632,700 shares of the company. Recently, Deerfield boosted its ownership of  Insmed Incorporated (NASDAQ:INSM) to 3.04 million shares - 7.75% of the company’s common stock.

Disclosure: none.

Recommended reading:

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Sandell Asset Management Surges Stake in Meritor Inc (MTOR)

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