ANI Pharmaceuticals Inc. (NASDAQ:ANIP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other research firms have also issued reports on ANIP. Guggenheim reissued a “buy” rating and issued a $80.00 price target (up previously from $65.00) on shares of ANI Pharmaceuticals in a research report on Friday, August 5th. Oppenheimer Holdings Inc. raised their price objective on shares of ANI Pharmaceuticals from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. TheStreet raised shares of ANI Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, August 26th. Citigroup Inc. lowered shares of ANI Pharmaceuticals from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a report on Friday, July 8th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. started coverage on shares of ANI Pharmaceuticals in a report on Wednesday, June 22nd. They set a “strong-buy” rating and a $68.00 price objective for the company. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $64.00.
Shares of ANI Pharmaceuticals (NASDAQ:ANIP) opened at 68.48 on Wednesday. The stock’s 50 day moving average price is $64.49 and its 200-day moving average price is $54.64. The firm has a market cap of $788.48 million, a P/E ratio of 80.47 and a beta of 2.92. ANI Pharmaceuticals has a 12 month low of $26.80 and a 12 month high of $70.92.
ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Thursday, August 4th. The specialty pharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.34. ANI Pharmaceuticals had a net margin of 11.02% and a return on equity of 20.12%. The firm earned $31.30 million during the quarter, compared to analyst estimates of $27.63 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 60.5% compared to the same quarter last year. Equities research analysts anticipate that ANI Pharmaceuticals will post $4.12 earnings per share for the current fiscal year.
In related news, VP Robert W. Schrepfer sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $67.06, for a total value of $838,250.00. Following the completion of the sale, the vice president now owns 17,362 shares of the company’s stock, valued at $1,164,295.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arthur Przybyl sold 37,455 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $66.97, for a total transaction of $2,508,361.35. Following the completion of the sale, the insider now directly owns 200,788 shares of the company’s stock, valued at approximately $13,446,772.36. The disclosure for this sale can be found here. 31.60% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in shares of ANI Pharmaceuticals by 94.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,364 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 1,151 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of ANI Pharmaceuticals during the second quarter worth about $177,000. Thrivent Financial for Lutherans acquired a new position in shares of ANI Pharmaceuticals during the second quarter worth about $204,000. Arizona State Retirement System acquired a new position in shares of ANI Pharmaceuticals during the second quarter worth about $219,000. Finally, BlackRock Advisors LLC boosted its position in shares of ANI Pharmaceuticals by 6.1% in the second quarter. BlackRock Advisors LLC now owns 3,975 shares of the specialty pharmaceutical company’s stock worth $222,000 after buying an additional 230 shares during the last quarter. 48.74% of the stock is owned by institutional investors and hedge funds.
ANI Pharmaceuticals Company Profile
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’s focused areas of product development include anti-cancer (oncolytics), hormones and steroids, and complex formulations.
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