HC Wainwright Weighs in on ANI Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:ANIP)

ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) – Equities researchers at HC Wainwright lowered their Q3 2024 earnings estimates for ANI Pharmaceuticals in a report issued on Tuesday, September 17th. HC Wainwright analyst O. Livnat now forecasts that the specialty pharmaceutical company will post earnings per share of $0.75 for the quarter, down from their prior forecast of $0.82. HC Wainwright currently has a “Buy” rating and a $94.00 price target on the stock. The consensus estimate for ANI Pharmaceuticals’ current full-year earnings is $3.50 per share.

Several other research firms have also weighed in on ANIP. Raymond James raised their price objective on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial restated a “hold” rating and issued a $60.00 price target (down previously from $80.00) on shares of ANI Pharmaceuticals in a research report on Wednesday, September 11th. Finally, StockNews.com cut ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.80.

ANI Pharmaceuticals Price Performance

NASDAQ:ANIP opened at $61.05 on Thursday. The company has a quick ratio of 3.07, a current ratio of 3.97 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $61.22 and its 200 day moving average price is $63.78. ANI Pharmaceuticals has a 52-week low of $48.20 and a 52-week high of $70.81. The firm has a market cap of $1.28 billion, a P/E ratio of 38.16 and a beta of 0.71.

ANI Pharmaceuticals (NASDAQ:ANIP) last issued its quarterly earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.07. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $129.09 million. ANI Pharmaceuticals had a return on equity of 15.64% and a net margin of 5.01%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS.

Insider Activity

In related news, COO Muthusamy Shanmugam sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $58.90, for a total value of $1,178,000.00. Following the completion of the transaction, the chief operating officer now owns 682,620 shares of the company’s stock, valued at approximately $40,206,318. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 66,007 shares of company stock worth $4,089,790 over the last 90 days. 12.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On ANI Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of ANI Pharmaceuticals by 287.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 21,277 shares of the specialty pharmaceutical company’s stock valued at $1,471,000 after purchasing an additional 15,790 shares during the period. BNP Paribas Financial Markets lifted its position in ANI Pharmaceuticals by 106.9% in the 1st quarter. BNP Paribas Financial Markets now owns 20,739 shares of the specialty pharmaceutical company’s stock worth $1,434,000 after buying an additional 10,716 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of ANI Pharmaceuticals during the 1st quarter valued at $979,000. Sequoia Financial Advisors LLC purchased a new position in shares of ANI Pharmaceuticals during the 2nd quarter valued at $600,000. Finally, Lisanti Capital Growth LLC purchased a new position in ANI Pharmaceuticals in the first quarter valued at about $2,218,000. 76.05% of the stock is owned by hedge funds and other institutional investors.

About ANI Pharmaceuticals

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.