ANI Pharmaceuticals (NASDAQ:ANIP) Price Target Raised to $114.00 at Guggenheim

Key Points

• Guggenheim has raised the price target for ANI Pharmaceuticals from $86.00 to $114.00, indicating a potential upside of 18.86% based on the company's previous closing price.
• The company reported $1.80 earnings per share for the last quarter, exceeding analysts' expectations of $1.42, alongside revenues of $211.37 million, significantly higher than the anticipated $187.18 million.
• In recent insider activity, Chad Gassert sold 20,000 shares and Jeanne Thoma sold 21,540 shares of ANI, indicating notable insider transactions amid price target upgrades.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) had its price target boosted by equities researchers at Guggenheim from $86.00 to $114.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the specialty pharmaceutical company's stock. Guggenheim's price target would indicate a potential upside of 18.86% from the company's previous close.

A number of other brokerages have also recently commented on ANIP. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Piper Sandler reiterated an "overweight" rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Truist Financial lifted their target price on shares of ANI Pharmaceuticals from $65.00 to $77.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $93.00 target price (up previously from $84.00) on shares of ANI Pharmaceuticals in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $88.25.

ANI Pharmaceuticals Stock Performance

ANI Pharmaceuticals stock opened at $95.91 on Monday. The firm's fifty day moving average price is $76.26 and its 200-day moving average price is $68.36. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.96 and a current ratio of 2.54. The stock has a market cap of $2.08 billion, a P/E ratio of -124.56 and a beta of 0.63. ANI Pharmaceuticals has a fifty-two week low of $52.50 and a fifty-two week high of $96.56.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The specialty pharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.38. The firm had revenue of $211.37 million for the quarter, compared to analysts' expectations of $187.18 million. ANI Pharmaceuticals had a negative net margin of 1.37% and a positive return on equity of 25.03%. The business's quarterly revenue was up 53.2% on a year-over-year basis. During the same quarter last year, the company posted $1.02 EPS. On average, equities research analysts expect that ANI Pharmaceuticals will post 3.86 earnings per share for the current fiscal year.

Insider Activity at ANI Pharmaceuticals

In other news, SVP Chad Gassert sold 20,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $86.97, for a total transaction of $1,739,400.00. Following the completion of the sale, the senior vice president owned 173,226 shares of the company's stock, valued at $15,065,465.22. The trade was a 10.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeanne Thoma sold 21,540 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $89.15, for a total transaction of $1,920,291.00. Following the completion of the sale, the director owned 23,405 shares in the company, valued at approximately $2,086,555.75. The trade was a 47.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,830 shares of company stock valued at $36,382,434 over the last quarter. 12.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ANIP. Advisors Asset Management Inc. bought a new position in shares of ANI Pharmaceuticals during the 1st quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd raised its stake in shares of ANI Pharmaceuticals by 4,636.4% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock worth $34,000 after acquiring an additional 510 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of ANI Pharmaceuticals by 200.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 600 shares of the specialty pharmaceutical company's stock worth $39,000 after acquiring an additional 400 shares in the last quarter. State of Wyoming bought a new position in shares of ANI Pharmaceuticals during the 2nd quarter worth approximately $50,000. Finally, National Bank of Canada FI bought a new position in shares of ANI Pharmaceuticals during the 1st quarter worth approximately $79,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract development and manufacturing of pharmaceutical products.

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