ANI Pharmaceuticals (NASDAQ:ANIP) Releases FY 2024 Earnings Guidance

ANI Pharmaceuticals (NASDAQ:ANIP) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.260-4.670 for the period, compared to the consensus estimate of 4.470. The company issued revenue guidance of $520.0 million-$542.0 million, compared to the consensus revenue estimate of $534.2 million.

Analysts Set New Price Targets

Several analysts have recently weighed in on ANIP shares. HC Wainwright lifted their price target on shares of ANI Pharmaceuticals from $73.00 to $83.00 and gave the company a buy rating in a research note on Monday, March 4th. Truist Financial boosted their price objective on shares of ANI Pharmaceuticals from $72.00 to $80.00 and gave the company a buy rating in a report on Friday, March 1st. Guggenheim boosted their target price on shares of ANI Pharmaceuticals from $70.00 to $77.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, Capital One Financial initiated coverage on shares of ANI Pharmaceuticals in a research report on Friday, March 15th. They set an overweight rating and a $80.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $80.00.

ANI Pharmaceuticals Stock Up 1.4 %

Shares of NASDAQ ANIP opened at $65.48 on Friday. ANI Pharmaceuticals has a 12-month low of $36.99 and a 12-month high of $70.81. The stock has a market cap of $1.38 billion, a PE ratio of 77.95 and a beta of 0.79. The company has a current ratio of 3.57, a quick ratio of 2.81 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $64.95 and a 200 day moving average of $58.63.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Thursday, February 29th. The specialty pharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. ANI Pharmaceuticals had a net margin of 3.86% and a return on equity of 18.06%. The business had revenue of $131.65 million during the quarter, compared to analysts’ expectations of $123.02 million. As a group, sell-side analysts predict that ANI Pharmaceuticals will post 3.55 EPS for the current fiscal year.

Insider Activity

In related news, CFO Stephen P. Carey sold 7,787 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.55, for a total transaction of $510,437.85. Following the completion of the transaction, the chief financial officer now owns 177,712 shares of the company’s stock, valued at approximately $11,649,021.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 5,692 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $55.95, for a total transaction of $318,467.40. Following the sale, the chief operating officer now directly owns 897,620 shares in the company, valued at approximately $50,221,839. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Stephen P. Carey sold 7,787 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.55, for a total transaction of $510,437.85. Following the sale, the chief financial officer now owns 177,712 shares in the company, valued at $11,649,021.60. The disclosure for this sale can be found here. Insiders sold a total of 145,686 shares of company stock valued at $9,586,490 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On ANI Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky grew its position in shares of ANI Pharmaceuticals by 65.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 3,681 shares of the specialty pharmaceutical company’s stock valued at $148,000 after buying an additional 1,458 shares during the last quarter. Lazard Asset Management LLC purchased a new position in ANI Pharmaceuticals during the 2nd quarter worth $135,000. PNC Financial Services Group Inc. grew its position in ANI Pharmaceuticals by 15.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,828 shares of the specialty pharmaceutical company’s stock worth $108,000 after purchasing an additional 512 shares during the last quarter. Royal Bank of Canada grew its position in ANI Pharmaceuticals by 93.3% during the 2nd quarter. Royal Bank of Canada now owns 1,749 shares of the specialty pharmaceutical company’s stock worth $94,000 after purchasing an additional 844 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in ANI Pharmaceuticals by 540.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,813 shares of the specialty pharmaceutical company’s stock worth $91,000 after purchasing an additional 2,374 shares during the last quarter. 76.05% of the stock is currently owned by institutional investors and hedge funds.

ANI Pharmaceuticals Company Profile

ANI Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract development and manufacturing of pharmaceutical products.