ANI Pharmaceuticals, Inc. (ANIP) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $71.00 price target on the specialty pharmaceutical company’s stock.
According to Zacks, “ANI Pharmaceuticals, Inc. is a specialty pharmaceutical company. It engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The company offers liquid, powder, oral solid dose, cough/cold products, antacids, laxatives, stomach remedies as well as hydrocortisone retention enema, esterified estrogen and methyltestosterone, fluvoxamine maleate tablets, hydrocortisone rectal suspension, metoclopramide oral solution, opium tincture and metoclopramide tablets. In addition, it offers contract manufacturing services for other pharmaceutical companies. The company serves through wholesalers, smaller regional distributors and chains and pharmacy and retail outlets primarily in the United States. ANI Pharmaceuticals, Inc., formerly known as BioSante Pharmaceuticals, Inc., is headquartered in Baudette, MN. “
A number of other research analysts also recently issued reports on the stock. Canaccord Genuity initiated coverage on shares of ANI Pharmaceuticals in a research note on Monday, July 31st. They issued a buy rating and a $60.00 price target for the company. BidaskClub downgraded shares of ANI Pharmaceuticals from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, ValuEngine upgraded shares of ANI Pharmaceuticals from a hold rating to a buy rating in a report on Saturday, November 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $68.25.
ANI Pharmaceuticals (NASDAQ:ANIP) traded up $1.04 during mid-day trading on Tuesday, reaching $61.90. The company’s stock had a trading volume of 110,314 shares, compared to its average volume of 133,707. The company has a quick ratio of 2.39, a current ratio of 3.45 and a debt-to-equity ratio of 0.83. The firm has a market cap of $718.57, a price-to-earnings ratio of 18.03 and a beta of 2.84. ANI Pharmaceuticals has a 52 week low of $42.23 and a 52 week high of $65.81.
ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings data on Thursday, November 2nd. The specialty pharmaceutical company reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12. ANI Pharmaceuticals had a return on equity of 22.40% and a net margin of 4.45%. The business had revenue of $48.16 million during the quarter, compared to the consensus estimate of $48.12 million. During the same period in the previous year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. equities analysts anticipate that ANI Pharmaceuticals will post 3.59 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in ANI Pharmaceuticals by 91.1% in the second quarter. Dimensional Fund Advisors LP now owns 339,268 shares of the specialty pharmaceutical company’s stock valued at $15,878,000 after purchasing an additional 161,743 shares in the last quarter. First Manhattan Co. raised its holdings in ANI Pharmaceuticals by 35.3% during the second quarter. First Manhattan Co. now owns 376,395 shares of the specialty pharmaceutical company’s stock worth $17,615,000 after purchasing an additional 98,300 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ANI Pharmaceuticals by 868.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 104,829 shares of the specialty pharmaceutical company’s stock worth $5,404,000 after buying an additional 94,002 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of ANI Pharmaceuticals by 19.5% during the 1st quarter. Renaissance Technologies LLC now owns 278,000 shares of the specialty pharmaceutical company’s stock worth $13,764,000 after buying an additional 45,300 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of ANI Pharmaceuticals by 25.5% during the 1st quarter. Bank of America Corp DE now owns 197,224 shares of the specialty pharmaceutical company’s stock worth $9,764,000 after buying an additional 40,111 shares during the last quarter. Hedge funds and other institutional investors own 55.55% 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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