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

Key Points

• Truist Financial has raised its price target for ANI Pharmaceuticals from $77.00 to $90.00, maintaining a "hold" rating on the stock, which suggests a potential downside of 1.95% from the previous close.
• ANI Pharmaceuticals reported an EPS of $1.80 for the last quarter, exceeding analysts' expectations of $1.42, and showing a 53.2% increase in revenue year-over-year to $211.37 million.
• Multiple research firms have issued ratings on ANI Pharmaceuticals, with two analysts giving a "Strong Buy", six a "Buy", one a "Hold", and one a "Sell", leading to a current consensus rating of "Moderate Buy" with an average price target of $99.14.

ANI Pharmaceuticals (NASDAQ:ANIP - Get Free Report) had its price target raised by equities researchers at Truist Financial from $77.00 to $90.00 in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a "hold" rating on the specialty pharmaceutical company's stock. Truist Financial's price objective would suggest a potential downside of 1.95% from the company's previous close.

ANIP has been the topic of a number of other research reports. Wall Street Zen upgraded shares of ANI Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Zacks Research upgraded shares of ANI Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Weiss Ratings lowered shares of ANI Pharmaceuticals from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of ANI Pharmaceuticals from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Finally, Piper Sandler restated an "overweight" rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, ANI Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $99.14.

ANI Pharmaceuticals Price Performance

Shares of NASDAQ ANIP traded up $0.14 during midday trading on Thursday, reaching $91.79. The company's stock had a trading volume of 31,735 shares, compared to its average volume of 369,809. The company has a current ratio of 2.54, a quick ratio of 1.96 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average price of $89.57 and a 200 day moving average price of $73.67. ANI Pharmaceuticals has a one year low of $52.50 and a one year high of $99.50. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -119.50 and a beta of 0.58.

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

Insider Transactions at ANI Pharmaceuticals

In other ANI Pharmaceuticals news, SVP Chad Gassert sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $86.97, for a total value of $1,739,400.00. Following the transaction, the senior vice president owned 173,226 shares in the company, valued at approximately $15,065,465.22. This represents a 10.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeanne Thoma sold 21,540 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $89.15, for a total transaction of $1,920,291.00. Following the completion of the transaction, the director owned 23,405 shares in the company, valued at approximately $2,086,555.75. This represents a 47.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 413,830 shares of company stock worth $36,495,294. 11.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in ANI Pharmaceuticals by 163.8% during the 1st quarter. GAMMA Investing LLC now owns 1,419 shares of the specialty pharmaceutical company's stock valued at $95,000 after purchasing an additional 881 shares during the last quarter. Sowell Financial Services LLC bought a new position in ANI Pharmaceuticals during the 1st quarter valued at about $352,000. Allspring Global Investments Holdings LLC lifted its holdings in ANI Pharmaceuticals by 53.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,949 shares of the specialty pharmaceutical company's stock valued at $599,000 after purchasing an additional 3,112 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in ANI Pharmaceuticals during the 1st quarter valued at about $1,805,000. Finally, Lisanti Capital Growth LLC lifted its holdings in ANI Pharmaceuticals by 291.8% during the 1st quarter. Lisanti Capital Growth LLC now owns 105,425 shares of the specialty pharmaceutical company's stock valued at $7,058,000 after purchasing an additional 78,515 shares during the last quarter. 76.05% of the stock is owned by institutional investors.

ANI Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.