Shares of ANI Pharmaceuticals Inc. (NASDAQ:ANIP) fell 2.5% during mid-day trading on Friday . The stock traded as low as $55.77 and last traded at $56.66, with a volume of 126,339 shares changing hands. The stock had previously closed at $58.12.

Several brokerages recently issued reports on ANIP. Citigroup Inc. downgraded ANI Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a report on Friday. They noted that the move was a valuation call. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of ANI Pharmaceuticals in a report on Tuesday, May 3rd. Zacks Investment Research downgraded ANI Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Raymond James Financial Inc. initiated coverage on ANI Pharmaceuticals in a report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $68.00 price target for the company. Finally, Guggenheim reissued a “buy” rating and issued a $65.00 price objective (up from $55.00) on shares of ANI Pharmaceuticals in a research report on Friday, June 17th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. ANI Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $55.88.

The company has a market cap of $649.47 million and a price-to-earnings ratio of 53.11. The company has a 50-day moving average of $54.28 and a 200 day moving average of $42.29.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its earnings results on Thursday, May 5th. The specialty pharmaceutical company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.12. During the same period last year, the business earned $0.57 EPS. The company had revenue of $20.60 million for the quarter, compared to analyst estimates of $21.03 million. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that ANI Pharmaceuticals Inc. will post $3.67 EPS for the current fiscal year.

Several large investors recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its stake in shares of ANI Pharmaceuticals by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 30,178 shares of the specialty pharmaceutical company’s stock worth $1,362,000 after buying an additional 178 shares during the period. Deere & Co. acquired a new position in ANI Pharmaceuticals during the fourth quarter worth $1,961,000. Finally, GSA Capital Partners LLP increased its position in ANI Pharmaceuticals by 10.8% in the fourth quarter. GSA Capital Partners LLP now owns 55,447 shares of the specialty pharmaceutical company’s stock worth $2,502,000 after buying an additional 5,420 shares in the last quarter.

ANI Pharmaceuticals, Inc is an integrated specialty pharmaceutical company. The Company is engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The Company’s focused areas of product development include anti-cancer (oncolytics), hormones and steroids, and complex formulations.

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