ANI Pharmaceuticals Inc. (NASDAQ:ANIP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

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. “

ANIP has been the subject of several other research reports. TheStreet raised shares of ANI Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, August 26th. 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. Finally, Oppenheimer Holdings Inc. increased their price target on shares of ANI Pharmaceuticals from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $67.00.

Analyst Recommendations for ANI Pharmaceuticals (NASDAQ:ANIP)

Shares of ANI Pharmaceuticals (NASDAQ:ANIP) traded down 0.85% during trading on Friday, hitting $57.99. The stock had a trading volume of 116,386 shares. The stock’s 50-day moving average price is $62.54 and its 200 day moving average price is $59.04. The stock has a market cap of $667.70 million, a price-to-earnings ratio of 68.14 and a beta of 3.22. ANI Pharmaceuticals has a one year low of $26.80 and a one year high of $70.92.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings data on Thursday, November 3rd. The specialty pharmaceutical company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. The business earned $38.53 million during the quarter, compared to analyst estimates of $34.34 million. ANI Pharmaceuticals had a net margin of 7.28% and a return on equity of 21.84%. The firm’s revenue for the quarter was up 92.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, equities analysts forecast that ANI Pharmaceuticals will post $4.06 EPS for the current year.

In other ANI Pharmaceuticals news, 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 value of $2,508,361.35. Following the transaction, the insider now directly owns 200,788 shares of the company’s stock, valued at $13,446,772.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in ANIP. Fiera Capital Corp purchased a new stake in ANI Pharmaceuticals during the second quarter valued at $10,602,000. State Street Corp raised its stake in ANI Pharmaceuticals by 62.5% in the second quarter. State Street Corp now owns 291,439 shares of the specialty pharmaceutical company’s stock valued at $16,272,000 after buying an additional 112,076 shares during the period. Smith Asset Management Group LP purchased a new stake in ANI Pharmaceuticals during the second quarter valued at $3,334,000. BlackRock Fund Advisors raised its stake in ANI Pharmaceuticals by 8.7% in the third quarter. BlackRock Fund Advisors now owns 718,640 shares of the specialty pharmaceutical company’s stock valued at $47,682,000 after buying an additional 57,809 shares during the period. Finally, 1492 Capital Management LLC purchased a new stake in ANI Pharmaceuticals during the third quarter valued at $2,289,000. 50.49% of the stock is currently owned by hedge funds and other institutional investors.

About ANI Pharmaceuticals

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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