Raymond James Lowers ANI Pharmaceuticals (NASDAQ:ANIP) Price Target to $75.00

ANI Pharmaceuticals (NASDAQ:ANIP) had its price objective cut by stock analysts at Raymond James from $82.00 to $75.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the specialty pharmaceutical company’s stock. Raymond James’ price objective suggests a potential upside of 30.71% from the stock’s current price.

ANIP has been the topic of several other research reports. Zacks Investment Research upgraded ANI Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. ValuEngine cut ANI Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday. Guggenheim assumed coverage on ANI Pharmaceuticals in a research report on Thursday, September 12th. They set a “buy” rating and a $76.00 target price on the stock. Finally, BidaskClub upgraded ANI Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.00.

ANIP stock traded down $4.05 during midday trading on Thursday, hitting $57.38. 388,900 shares of the company’s stock were exchanged, compared to its average volume of 137,916. The company has a current ratio of 1.01, a quick ratio of 0.74 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $73.65 and a two-hundred day simple moving average of $73.58. ANI Pharmaceuticals has a 1-year low of $36.92 and a 1-year high of $86.96. The stock has a market capitalization of $954.49 million, a PE ratio of 12.45 and a beta of 2.20.

ANI Pharmaceuticals (NASDAQ:ANIP) last released its earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.20). ANI Pharmaceuticals had a return on equity of 29.53% and a net margin of 8.14%. The business had revenue of $51.30 million for the quarter, compared to analyst estimates of $56.10 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts expect that ANI Pharmaceuticals will post 5.29 EPS for the current fiscal year.

In other ANI Pharmaceuticals news, major shareholder Meridian Venture Partners Ii L sold 61,697 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $71.64, for a total transaction of $4,419,973.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 78,591 shares of company stock worth $5,582,839 in the last quarter. 24.70% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in ANIP. Invesco Ltd. boosted its stake in shares of ANI Pharmaceuticals by 113.9% during the 2nd quarter. Invesco Ltd. now owns 214,240 shares of the specialty pharmaceutical company’s stock worth $17,611,000 after acquiring an additional 114,084 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of ANI Pharmaceuticals during the 3rd quarter worth approximately $7,028,000. Nomura Holdings Inc. boosted its stake in shares of ANI Pharmaceuticals by 34.1% during the 2nd quarter. Nomura Holdings Inc. now owns 375,449 shares of the specialty pharmaceutical company’s stock worth $31,071,000 after acquiring an additional 95,462 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of ANI Pharmaceuticals by 44.6% during the 2nd quarter. Renaissance Technologies LLC now owns 288,100 shares of the specialty pharmaceutical company’s stock worth $23,682,000 after acquiring an additional 88,900 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of ANI Pharmaceuticals during the 2nd quarter worth approximately $7,071,000. 70.97% of the stock is currently owned by institutional investors and hedge funds.

ANI Pharmaceuticals Company Profile

ANI Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. It focuses on producing controlled substances, oncolytics (anti-cancers), hormones and steroids, and other formulations. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract manufacturing for other pharmaceutical companies.

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