Zacks Investment Research Upgrades ANI Pharmaceuticals (NASDAQ:ANIP) to Hold

Zacks Investment Research upgraded shares of ANI Pharmaceuticals (NASDAQ:ANIP) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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 recently commented on ANIP. Cantor Fitzgerald reaffirmed a buy rating and issued a $27.00 price target on shares of Spero Therapeutics in a report on Thursday, May 9th. ValuEngine raised Xylem from a hold rating to a buy rating in a report on Friday, June 21st. Raymond James reissued a buy rating on shares of Canadian Natural Resources in a report on Friday, May 10th. TheStreet raised TerraForm Power from a c rating to a b- rating in a report on Tuesday, March 19th. Finally, Canaccord Genuity cut Magellan Aerospace from a buy rating to a hold rating and dropped their target price for the stock from C$21.00 to C$20.00 in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $84.50.

ANI Pharmaceuticals stock opened at $81.36 on Wednesday. The firm has a 50 day moving average price of $75.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a market cap of $980.06 million, a PE ratio of 17.38 and a beta of 2.25. ANI Pharmaceuticals has a 12 month low of $36.92 and a 12 month high of $84.10.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Thursday, May 9th. The specialty pharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.05 by $0.25. The firm had revenue of $52.90 million during the quarter, compared to analysts’ expectations of $50.57 million. ANI Pharmaceuticals had a return on equity of 28.63% and a net margin of 6.58%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 EPS. As a group, sell-side analysts expect that ANI Pharmaceuticals will post 5.57 earnings per share for the current year.

In related news, Director Thomas Haughey bought 2,500 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average cost of $69.30 per share, with a total value of $173,250.00. Following the acquisition, the director now owns 6,291 shares in the company, valued at approximately $435,966.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Nash bought 1,445 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was bought at an average cost of $68.76 per share, with a total value of $99,358.20. Following the completion of the acquisition, the director now owns 5,236 shares in the company, valued at approximately $360,027.36. The disclosure for this purchase can be found here. Over the last three months, insiders sold 50,911 shares of company stock valued at $3,585,114. 24.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ANIP. Global Alpha Capital Management Ltd. bought a new stake in ANI Pharmaceuticals during the 1st quarter worth approximately $6,808,000. SG Americas Securities LLC grew its position in ANI Pharmaceuticals by 1,954.0% during the 1st quarter. SG Americas Securities LLC now owns 67,904 shares of the specialty pharmaceutical company’s stock worth $4,790,000 after acquiring an additional 64,598 shares during the last quarter. Phocas Financial Corp. grew its position in ANI Pharmaceuticals by 33.7% during the 4th quarter. Phocas Financial Corp. now owns 129,476 shares of the specialty pharmaceutical company’s stock worth $5,829,000 after acquiring an additional 32,671 shares during the last quarter. Martingale Asset Management L P bought a new stake in ANI Pharmaceuticals during the 4th quarter worth approximately $1,050,000. Finally, LSV Asset Management grew its position in ANI Pharmaceuticals by 28.0% during the 1st quarter. LSV Asset Management now owns 81,785 shares of the specialty pharmaceutical company’s stock worth $5,769,000 after acquiring an additional 17,885 shares during the last quarter. 63.92% of the stock is owned by institutional investors and hedge funds.

About ANI Pharmaceuticals

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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