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

ANI Pharmaceuticals (NASDAQ:ANIP) issued an update on its FY 2024 earnings guidance on Friday morning. 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.

ANI Pharmaceuticals Trading Up 1.4 %

NASDAQ ANIP opened at $65.48 on Friday. The company has a quick ratio of 2.81, a current ratio of 3.57 and a debt-to-equity ratio of 0.66. ANI Pharmaceuticals has a 52 week low of $36.99 and a 52 week high of $70.81. The stock has a market capitalization of $1.38 billion, a PE ratio of 77.95 and a beta of 0.79. The firm has a 50 day moving average of $64.95 and a two-hundred day moving average of $58.63.

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

Analyst Ratings Changes

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

Insider Transactions at ANI Pharmaceuticals

In related news, CEO Nikhil Lalwani sold 28,965 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $65.52, for a total value of $1,897,786.80. Following the transaction, the chief executive officer now owns 444,981 shares in the company, valued at $29,155,155.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Muthusamy Shanmugam sold 5,692 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 897,620 shares of the company’s stock, valued at $50,221,839. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikhil Lalwani sold 28,965 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $65.52, for a total transaction of $1,897,786.80. Following the sale, the chief executive officer now directly owns 444,981 shares of the company’s stock, valued at approximately $29,155,155.12. The disclosure for this sale can be found here. Insiders have sold a total of 145,686 shares of company stock worth $9,586,490 in the last three months. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On ANI Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ANIP. Swiss National Bank lifted its stake in ANI Pharmaceuticals by 7.1% in the first quarter. Swiss National Bank now owns 27,000 shares of the specialty pharmaceutical company’s stock valued at $759,000 after buying an additional 1,800 shares during the last quarter. Citigroup Inc. lifted its stake in ANI Pharmaceuticals by 44.9% in the first quarter. Citigroup Inc. now owns 12,516 shares of the specialty pharmaceutical company’s stock valued at $352,000 after buying an additional 3,881 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in ANI Pharmaceuticals by 15.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,828 shares of the specialty pharmaceutical company’s stock valued at $108,000 after buying an additional 512 shares during the last quarter. MetLife Investment Management LLC lifted its stake in ANI Pharmaceuticals by 57.0% in the first quarter. MetLife Investment Management LLC now owns 5,858 shares of the specialty pharmaceutical company’s stock valued at $165,000 after buying an additional 2,127 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of ANI Pharmaceuticals by 4.4% during the first quarter. Rhumbline Advisers now owns 25,916 shares of the specialty pharmaceutical company’s stock valued at $728,000 after purchasing an additional 1,096 shares in the last quarter. 76.05% of the stock is currently owned by 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.