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

ANI Pharmaceuticals (NASDAQ:ANIP) had its price objective reduced by Raymond James from $82.00 to $75.00 in a report issued on Thursday, Stock Target Advisor reports. They currently have an outperform rating on the specialty pharmaceutical company’s stock.

Several other research firms have also commented on ANIP. ValuEngine lowered shares of ANI Pharmaceuticals from a sell rating to a strong sell rating in a research report on Thursday. BidaskClub upgraded ANI Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, October 22nd. Guggenheim assumed coverage on ANI Pharmaceuticals in a research note on Thursday, September 12th. They set a buy rating and a $76.00 price objective for the company. Finally, Zacks Investment Research upgraded ANI Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $85.00.

NASDAQ:ANIP traded down $4.05 during trading hours on Thursday, hitting $57.38. The company had a trading volume of 388,900 shares, compared to its average volume of 137,916. ANI Pharmaceuticals has a 52 week low of $36.92 and a 52 week high of $86.96. The stock has a 50-day moving average price of $73.65 and a 200 day moving average price of $73.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.01 and a quick ratio of 0.74. The company 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 quarterly earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported $1.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by ($0.20). ANI Pharmaceuticals had a net margin of 8.14% and a return on equity of 29.53%. The business had revenue of $51.30 million for the quarter, compared to analysts’ expectations of $56.10 million. During the same period in the previous year, the company earned $1.29 EPS. ANI Pharmaceuticals’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts anticipate that ANI Pharmaceuticals will post 5.29 EPS for the current fiscal year.

In related news, major shareholder Meridian Venture Partners Ii L sold 9,315 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $69.34, for a total transaction of $645,902.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 78,591 shares of company stock valued at $5,582,839. 24.70% of the stock is currently owned by corporate insiders.

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

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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