Shares of ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) have received an average recommendation of “Buy” from ten research firms, according to MarketBeat. The consensus target price for the stock is set at $99.14, reflecting optimism from analysts regarding the company’s performance. The recommendations include two “hold” ratings, six “buy” ratings, and two “strong buy” ratings.
Several recent analyst reports have contributed to this favorable outlook. On September 24, 2023, JPMorgan Chase & Co. raised its target price for ANI Pharmaceuticals from $95.00 to $115.00, assigning the stock an “overweight” rating. Prior to this, Zacks Research upgraded ANI Pharmaceuticals from a “hold” to a “strong-buy” rating on August 21, 2023. Additionally, on August 16, 2023, Wall Street Zen also elevated its rating from “buy” to “strong-buy”. HC Wainwright increased its price objective from $93.00 to $121.00 on September 17, 2023, while Piper Sandler reiterated its “overweight” rating and set a $94.00 price objective on August 8, 2023.
Institutional Investor Activity
In addition to analyst ratings, institutional investors have been actively adjusting their stakes in ANI Pharmaceuticals. Rubric Capital Management LP significantly increased its stake by 354.7% in the second quarter, acquiring an additional 200,998 shares for a total of 257,669 shares, valued at approximately $16.81 million.
Similarly, Aberdeen Group plc expanded its position by 76.1% in the first quarter, now holding 419,099 shares worth $28.06 million. Woodline Partners LP established a new position valued at approximately $11.14 million during the same period. Other notable movements include the Teacher Retirement System of Texas, which amplified its stake by an astonishing 3,156.3% in the second quarter, now owning 147,380 shares valued at about $9.62 million. Global Alpha Capital Management Ltd. also increased its stake by 17.2% in the second quarter, owning 862,090 shares worth $56.25 million. Overall, institutional investors and hedge funds own approximately 76.05% of ANI Pharmaceuticals’ stock.
Stock Performance and Financial Overview
On Thursday, shares of ANI Pharmaceuticals opened at $94.24. The stock has fluctuated significantly over the past year, with a 52-week low of $52.50 and a high of $99.50. The company holds a market cap of $2.05 billion, with a P/E ratio of -122.39 and a beta of 0.58. Key financial metrics reveal a 50-day moving average price of $93.38 and a 200-day moving average price of $75.84.
ANI Pharmaceuticals’ last earnings report, released on June 8, 2023, indicated a loss of ($0.12) earnings per share. The company reported revenue of $64.48 million for the quarter, with analysts projecting an earnings per share (EPS) of 3.86 for the current fiscal year.
Founded as a biopharmaceutical company, ANI Pharmaceuticals develops, manufactures, and markets both branded and generic prescription pharmaceuticals primarily in the United States and Canada. The company specializes in a variety of product formats, including oral solids, semi-solids, liquids, and topicals, and also engages in contract development and manufacturing services for pharmaceutical products.
