ANI Pharmaceuticals (NASDAQ:ANIP) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of ANI Pharmaceuticals (NASDAQ:ANIP) from a sell rating to a hold rating in a report issued on Monday, 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. “

ANIP has been the topic of several other research reports. Cantor Fitzgerald reiterated a buy rating and set a $89.00 price target on shares of ANI Pharmaceuticals in a research report on Thursday, May 9th. Canaccord Genuity reiterated a buy rating and set a $90.00 price target (up previously from $80.00) on shares of ANI Pharmaceuticals in a research report on Monday, May 13th. ValuEngine cut shares of ANI Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, August 1st. BidaskClub cut shares of ANI Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 13th. Finally, Raymond James cut shares of ANI Pharmaceuticals from a strong-buy rating to an outperform rating and upped their price objective for the stock from $73.00 to $82.00 in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. ANI Pharmaceuticals presently has an average rating of Buy and a consensus target price of $89.00.

Shares of NASDAQ ANIP opened at $66.35 on Monday. ANI Pharmaceuticals has a 1 year low of $36.92 and a 1 year high of $86.96. 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’s 50-day moving average is $78.42 and its 200 day moving average is $70.75. The stock has a market capitalization of $814.79 million, a P/E ratio of 13.61 and a beta of 2.17.

ANI Pharmaceuticals (NASDAQ:ANIP) last announced its quarterly earnings results on Wednesday, August 7th. The specialty pharmaceutical company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.26. ANI Pharmaceuticals had a net margin of 8.14% and a return on equity of 29.53%. The company had revenue of $54.36 million for the quarter, compared to analysts’ expectations of $55.20 million. During the same quarter in the previous year, the company earned $1.13 earnings per share. ANI Pharmaceuticals’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts anticipate that ANI Pharmaceuticals will post 5.29 earnings per share for the current year.

In other ANI Pharmaceuticals news, major shareholder Meridian Venture Partners Ii L sold 7,579 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $68.21, for a total value of $516,963.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 98,451 shares of company stock worth $7,006,801. Corporate insiders own 24.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP grew its holdings in ANI Pharmaceuticals by 1.2% in the first quarter. First Trust Advisors LP now owns 15,122 shares of the specialty pharmaceutical company’s stock worth $1,067,000 after purchasing an additional 179 shares during the period. Texas Permanent School Fund grew its holdings in ANI Pharmaceuticals by 3.8% in the first quarter. Texas Permanent School Fund now owns 5,633 shares of the specialty pharmaceutical company’s stock worth $397,000 after purchasing an additional 206 shares during the period. Comerica Bank grew its holdings in ANI Pharmaceuticals by 3.1% in the first quarter. Comerica Bank now owns 8,239 shares of the specialty pharmaceutical company’s stock worth $570,000 after purchasing an additional 248 shares during the period. Arizona State Retirement System grew its holdings in ANI Pharmaceuticals by 2.1% in the second quarter. Arizona State Retirement System now owns 13,070 shares of the specialty pharmaceutical company’s stock worth $1,074,000 after purchasing an additional 273 shares during the period. Finally, THB Asset Management grew its holdings in ANI Pharmaceuticals by 1.1% in the first quarter. THB Asset Management now owns 25,431 shares of the specialty pharmaceutical company’s stock worth $1,793,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 67.00% of the company’s stock.

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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