ANI Pharmaceuticals Inc. (NASDAQ:ANIP)’s share price shot up 1.8% on Tuesday . The company traded as high as $61.44 and last traded at $57.00, with a volume of 785,652 shares. The stock had previously closed at $56.01.

A number of brokerages recently weighed in on ANIP. Zacks Investment Research raised shares of ANI Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a report on Tuesday, April 26th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of ANI Pharmaceuticals in a report on Tuesday, May 3rd. Guggenheim reissued a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of ANI Pharmaceuticals in a report on Saturday, May 7th. Raymond James Financial Inc. began coverage on shares of ANI Pharmaceuticals in a report on Wednesday, June 22nd. They issued a “strong-buy” rating and a $68.00 price target on the stock. Finally, Standpoint Research downgraded shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. ANI Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $57.88.

The firm has a market cap of $648.89 million and a price-to-earnings ratio of 53.06. The company’s 50 day moving average is $55.03 and its 200-day moving average is $42.63.

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

A number of hedge funds and institutional investors have modified their holdings of ANIP. Mutual of America Capital Management LLC boosted its position 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 last quarter. Deere & Co. acquired a new position in shares of ANI Pharmaceuticals during the fourth quarter worth approximately $1,961,000. Finally, GSA Capital Partners LLP boosted its position in shares of 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 during 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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