ANI Pharmaceuticals, Inc. (ANIP) Stock Rating Reaffirmed by Canaccord Genuity
ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a research report issued on Wednesday.
The analysts wrote, “We remain pessimistic about the company’s ability to execute a successful clinical trial required for FDA approval. The planned 2018 $10M cost-cutting initiative suggests to us that Eagle isn’t too confident either (and is generally in line with our expectations). Eagle’s other pipeline programs like fulvestrant and drug-induced hyperthermia are questionable and may require a few more years of development under a best case scenario, in our view. There was strangely no mention of the Alimta RTD PDUFA in October. Eagle also reiterated prior 2017 expense guidance of $50-$53M in SG&A (excluding stock based comp) and $26- $30M R&D (excluding stock-based comp). We note the company was previously reporting GAAP earnings so the change is slightly new. We also note that Eagle has expanded its borrowing capacity by $100M (suggesting to us that it may want to bring in new assets) but simultaneously announced an additional $100M buyback program.””
Several other analysts have also recently issued reports on ANIP. Zacks Investment Research raised ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Roth Capital set a $56.00 price objective on shares of ANI Pharmaceuticals and gave the stock a “hold” rating in a report on Saturday, May 6th. ValuEngine lowered shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Guggenheim restated a “buy” rating and issued a $80.00 price objective on shares of ANI Pharmaceuticals in a report on Tuesday, July 4th. Finally, BidaskClub lowered shares of ANI Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. ANI Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $65.33.
ANI Pharmaceuticals (ANIP) traded up 0.05% on Wednesday, reaching $43.48. The company had a trading volume of 195,312 shares. The firm has a market capitalization of $505.98 million, a price-to-earnings ratio of 135.88 and a beta of 3.08. ANI Pharmaceuticals has a one year low of $42.23 and a one year high of $70.92. The company’s 50 day moving average is $47.24 and its 200-day moving average is $50.78.
ANI Pharmaceuticals (NASDAQ:ANIP) last posted its earnings results on Thursday, August 3rd. The specialty pharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.19. The company had revenue of $44.80 million for the quarter, compared to analysts’ expectations of $43.20 million. ANI Pharmaceuticals had a return on equity of 22.70% and a net margin of 3.35%. ANI Pharmaceuticals’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. On average, equities research analysts expect that ANI Pharmaceuticals will post $3.84 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of ANIP. Icon Advisers Inc. Co. bought a new stake in shares of ANI Pharmaceuticals during the first quarter valued at approximately $1,025,000. Tudor Investment Corp ET AL raised its stake in shares of ANI Pharmaceuticals by 80.4% in the first quarter. Tudor Investment Corp ET AL now owns 8,300 shares of the specialty pharmaceutical company’s stock valued at $411,000 after buying an additional 3,700 shares during the period. Kennedy Capital Management Inc. bought a new stake in shares of ANI Pharmaceuticals during the first quarter valued at approximately $4,069,000. Dimensional Fund Advisors LP raised its stake in shares of ANI Pharmaceuticals by 90.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 91,514 shares of the specialty pharmaceutical company’s stock valued at $5,548,000 after buying an additional 43,534 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of ANI Pharmaceuticals by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,300 shares of the specialty pharmaceutical company’s stock valued at $261,000 after buying an additional 240 shares during the period. Institutional investors and hedge funds own 56.03% of the company’s stock.
About ANI Pharmaceuticals
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 focuses on areas, including controlled substances, anti-cancer (oncolytics), hormones and steroids, and complex formulations.
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