ANI Pharmaceuticals (NASDAQ:ANIP) Releases FY 2024 Earnings Guidance

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 4.260-4.670 for the period, compared to the consensus estimate of 4.470. The company issued revenue guidance of $520.0 million-$542.0 million, compared to the consensus revenue estimate of $534.2 million.

ANI Pharmaceuticals Stock Performance

ANI Pharmaceuticals stock traded up $0.90 during mid-day trading on Friday, reaching $65.48. 207,268 shares of the stock traded hands, compared to its average volume of 139,655. The stock has a market capitalization of $1.38 billion, a PE ratio of 77.95 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.57 and a quick ratio of 2.81. ANI Pharmaceuticals has a 12-month low of $36.99 and a 12-month high of $70.81. The business's 50-day moving average is $64.95 and its 200-day moving average is $58.63.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The specialty pharmaceutical company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $131.65 million during the quarter, compared to analysts' expectations of $123.02 million. ANI Pharmaceuticals had a return on equity of 18.06% and a net margin of 3.86%. As a group, sell-side analysts predict that ANI Pharmaceuticals will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on ANIP shares. HC Wainwright upped their price objective on ANI Pharmaceuticals from $73.00 to $83.00 and gave the company a buy rating in a research report on Monday, March 4th. Truist Financial upped their price target on ANI Pharmaceuticals from $72.00 to $80.00 and gave the stock a buy rating in a research report on Friday, March 1st. Capital One Financial assumed coverage on ANI Pharmaceuticals in a research report on Friday, March 15th. They issued an overweight rating and a $80.00 price target for the company. Finally, Guggenheim upped their price target on ANI Pharmaceuticals from $70.00 to $77.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ANI Pharmaceuticals currently has a consensus rating of Buy and an average price target of $80.00.

Insider Transactions at ANI Pharmaceuticals

In other news, SVP James G. Marken sold 24,338 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.37, for a total value of $1,615,313.06. Following the completion of the transaction, the senior vice president now owns 124,492 shares of the company's stock, valued at $8,262,534.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nikhil Lalwani sold 28,965 shares of the company's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $65.52, for a total value of $1,897,786.80. Following the completion of the transaction, the chief executive officer now owns 444,981 shares of the company's stock, valued at $29,155,155.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James G. Marken sold 24,338 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $66.37, for a total value of $1,615,313.06. Following the completion of the transaction, the senior vice president now directly owns 124,492 shares of the company's stock, valued at approximately $8,262,534.04. The disclosure for this sale can be found here. Insiders sold a total of 145,686 shares of company stock valued at $9,586,490 over the last 90 days. Company insiders own 12.70% of the company's stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its stake in ANI Pharmaceuticals by 5.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 3,881 shares of the specialty pharmaceutical company's stock valued at $209,000 after buying an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in ANI Pharmaceuticals by 4.3% during the third quarter. The Manufacturers Life Insurance Company now owns 5,435 shares of the specialty pharmaceutical company's stock valued at $316,000 after buying an additional 225 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in ANI Pharmaceuticals by 60.0% during the second quarter. Point72 Asset Management L.P. now owns 776 shares of the specialty pharmaceutical company's stock valued at $42,000 after buying an additional 291 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ANI Pharmaceuticals by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 35,039 shares of the specialty pharmaceutical company's stock valued at $1,392,000 after buying an additional 384 shares during the last quarter. Finally, American International Group Inc. raised its position in ANI Pharmaceuticals by 7.2% during the second quarter. American International Group Inc. now owns 6,866 shares of the specialty pharmaceutical company's stock valued at $204,000 after purchasing an additional 461 shares during the period. 76.05% of the stock is owned by 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.