ANI Pharmaceuticals Inc. (ANIP) Lowered to Hold at Zacks Investment Research
ANI Pharmaceuticals Inc. (NASDAQ:ANIP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to 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 brokerages also recently commented on ANIP. Oppenheimer Holdings Inc. upped their price objective on shares of ANI Pharmaceuticals from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Raymond James Financial Inc. initiated coverage on shares of ANI Pharmaceuticals in a research note on Wednesday, June 22nd. They set a “strong-buy” rating and a $68.00 price objective for the company. Citigroup Inc. downgraded 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 research note on Friday, July 8th. They noted that the move was a valuation call. TheStreet raised shares of ANI Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, August 26th. Finally, Guggenheim reaffirmed a “buy” rating and set a $65.00 price objective (up from $55.00) on shares of ANI Pharmaceuticals in a research note on Friday, June 17th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. ANI Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $64.00.
ANI Pharmaceuticals (NASDAQ:ANIP) traded up 1.62% during trading on Wednesday, reaching $68.96. The company’s stock had a trading volume of 284,592 shares. The firm has a market cap of $794.01 million, a PE ratio of 81.03 and a beta of 2.92. The company has a 50-day moving average of $64.51 and a 200 day moving average of $54.44. ANI Pharmaceuticals has a one year low of $26.80 and a one year 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, beating the 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 business earned $31.30 million during the quarter, compared to analyst estimates of $27.63 million. During the same period in the prior year, the business posted $0.55 earnings per share. The company’s revenue was up 60.5% on a year-over-year basis. Analysts expect that ANI Pharmaceuticals will post $4.12 EPS for the current fiscal year.
In other ANI Pharmaceuticals 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 transaction of $838,250.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available 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 transaction, 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.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased 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 in the last quarter. Bank of Montreal Can acquired a new position in shares of ANI Pharmaceuticals during the second quarter worth $177,000. Thrivent Financial for Lutherans acquired a new position in shares of ANI Pharmaceuticals during the second quarter worth $204,000. Arizona State Retirement System acquired a new position in shares of ANI Pharmaceuticals during the second quarter worth $219,000. Finally, BlackRock Advisors LLC increased 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 in 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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