Truist Financial Issues Positive Forecast for ANI Pharmaceuticals (NASDAQ:ANIP) Stock Price

Key Points

• Truist Financial raised its price target for ANI Pharmaceuticals (NASDAQ:ANIP) from $65.00 to $77.00, indicating a potential downside of 8.36% from the stock's previous close.
• ANI Pharmaceuticals reported $1.80 EPS for the last quarter, beating estimates of $1.42, and experienced a 53.2% revenue increase year-over-year.
• Despite positive ratings from several firms, Wall Street Zen downgraded ANI Pharmaceuticals from a "hold" rating to a "sell" rating, showcasing differing opinions on the stock's performance.

ANI Pharmaceuticals (NASDAQ:ANIP - Free Report) had its price target lifted by Truist Financial from $65.00 to $77.00 in a research note released on Monday,Benzinga reports. They currently have a hold rating on the specialty pharmaceutical company's stock.

Several other research analysts have also recently commented on the stock. HC Wainwright restated a "buy" rating and set a $93.00 target price (up previously from $84.00) on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Guggenheim restated a "buy" rating and set a $86.00 target price on shares of ANI Pharmaceuticals in a report on Monday, May 12th. Piper Sandler restated an "overweight" rating and set a $94.00 target price on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Finally, Wall Street Zen cut shares of ANI Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $84.75.

ANI Pharmaceuticals Trading Up 1.4%

NASDAQ ANIP traded up $1.26 during trading on Monday, reaching $90.00. 604,501 shares of the stock traded hands, compared to its average volume of 362,493. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -116.88 and a beta of 0.61. The stock's 50-day moving average price is $66.74 and its 200 day moving average price is $64.42. The company has a quick ratio of 1.96, a current ratio of 2.54 and a debt-to-equity ratio of 1.39. ANI Pharmaceuticals has a fifty-two week low of $52.50 and a fifty-two week high of $90.23.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) last released its quarterly earnings results 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 company had revenue of $211.37 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. Analysts predict that ANI Pharmaceuticals will post 3.86 EPS for the current year.

Insider Buying and Selling at ANI Pharmaceuticals

In other news, VP Meredith Cook sold 400 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $64.88, for a total value of $25,952.00. Following the transaction, the vice president directly owned 78,945 shares of the company's stock, valued at $5,121,951.60. This represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. acquired a new stake in ANI Pharmaceuticals during the first quarter worth about $28,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of ANI Pharmaceuticals by 4,636.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 521 shares of the specialty pharmaceutical company's stock valued at $34,000 after purchasing an additional 510 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of ANI Pharmaceuticals in the 1st quarter valued at approximately $79,000. Emerald Advisers LLC boosted its stake in shares of ANI Pharmaceuticals by 414.8% in the 2nd quarter. Emerald Advisers LLC now owns 1,256 shares of the specialty pharmaceutical company's stock valued at $82,000 after purchasing an additional 1,012 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of ANI Pharmaceuticals by 163.8% during the first quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock worth $95,000 after buying an additional 881 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

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.