ANI Pharmaceuticals Inc. (NASDAQ:ANIP) shares gapped up before the market opened on Wednesday . The stock had previously closed at $59.45, but opened at $59.49. ANI Pharmaceuticals shares last traded at $60.00, with a volume of 173,586 shares trading hands.

ANIP has been the subject of several recent analyst reports. Citigroup Inc. upgraded ANI Pharmaceuticals to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, July 19th. Guggenheim reiterated a “buy” rating and issued a $65.00 price target (up previously from $55.00) on shares of ANI Pharmaceuticals in a report on Friday, June 17th. Zacks Investment Research upgraded ANI Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $67.00 price target for the company in a report on Wednesday, July 20th. Standpoint Research lowered ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Finally, Raymond James Financial Inc. began 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. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.38.

The firm has a market capitalization of $691.76 million and a P/E ratio of 56.57. The company has a 50-day moving average price of $55.73 and a 200 day moving average price of $43.46.

ANI Pharmaceuticals (NASDAQ:ANIP) last released its quarterly earnings data on Thursday, May 5th. The specialty pharmaceutical company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.12. The business earned $20.60 million during the quarter, compared to analyst estimates of $21.03 million. During the same quarter in the previous year, the company posted $0.57 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that ANI Pharmaceuticals Inc. will post $3.63 EPS for the current fiscal year.

Other hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP increased its stake 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 in the last quarter. Deere & Co. purchased a new stake in shares of ANI Pharmaceuticals during the fourth quarter worth about $1,961,000. Finally, Mutual of America Capital Management LLC increased 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 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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