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

ANI Pharmaceuticals (NASDAQ:ANIP) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.260-4.670 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

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

ANI Pharmaceuticals Price Performance

ANI Pharmaceuticals stock traded up $0.90 during midday trading on Friday, reaching $65.48. The company had a trading volume of 200,700 shares, compared to its average volume of 139,568. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.57 and a quick ratio of 2.81. The firm’s fifty day simple moving average is $64.77 and its 200-day simple moving average is $58.57. ANI Pharmaceuticals has a 12-month low of $36.99 and a 12-month high of $70.81. The company has a market capitalization of $1.38 billion, a P/E ratio of 77.06 and a beta of 0.79.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Thursday, February 29th. The specialty pharmaceutical company reported $0.78 EPS for the quarter, topping 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 the consensus estimate of $123.02 million. As a group, equities analysts anticipate that ANI Pharmaceuticals will post 3.55 EPS for the current year.

Insider Buying and Selling

In other ANI Pharmaceuticals news, COO Muthusamy Shanmugam sold 5,692 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 897,620 shares of the company’s stock, valued at approximately $50,221,839. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Chad Gassert sold 20,000 shares of ANI Pharmaceuticals stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $67.25, for a total value of $1,345,000.00. Following the transaction, the senior vice president now directly owns 253,226 shares in the company, valued at $17,029,448.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Muthusamy Shanmugam sold 5,692 shares of ANI Pharmaceuticals stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $55.95, for a total value of $318,467.40. Following the sale, the chief operating officer now directly owns 897,620 shares in the company, valued at $50,221,839. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,686 shares of company stock worth $9,586,490. 12.70% of the stock is owned by insiders.

Institutional Trading of ANI Pharmaceuticals

A number of large investors have recently made changes to their positions in ANIP. Point72 Asset Management L.P. increased its holdings in shares of ANI Pharmaceuticals by 60.0% during the second quarter. Point72 Asset Management L.P. now owns 776 shares of the specialty pharmaceutical company’s stock worth $42,000 after purchasing an additional 291 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of ANI Pharmaceuticals in the 2nd quarter worth about $44,000. Lazard Asset Management LLC acquired a new stake in shares of ANI Pharmaceuticals in the 4th quarter worth about $55,000. Quantbot Technologies LP bought a new stake in ANI Pharmaceuticals in the 1st quarter worth about $64,000. Finally, Systematic Financial Management LP bought a new position in shares of ANI Pharmaceuticals during the 1st quarter valued at approximately $68,000. Institutional investors own 76.05% of the company’s stock.

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.