ANI Pharmaceuticals (ANIP) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of ANI Pharmaceuticals (NASDAQ:ANIP) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “ANI Pharmaceuticals, Inc. is a specialty pharmaceutical company. It engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The company offers liquid, powder, oral solid dose, cough/cold products, antacids, laxatives, stomach remedies as well as hydrocortisone retention enema, esterified estrogen and methyltestosterone, fluvoxamine maleate tablets, hydrocortisone rectal suspension, metoclopramide oral solution, opium tincture and metoclopramide tablets. In addition, it offers contract manufacturing services for other pharmaceutical companies. The company serves through wholesalers, smaller regional distributors and chains and pharmacy and retail outlets primarily in the United States. ANI Pharmaceuticals, Inc., formerly known as BioSante Pharmaceuticals, Inc., is headquartered in Baudette, MN. “

A number of other equities research analysts have also recently weighed in on ANIP. Canaccord Genuity restated a buy rating and issued a $66.00 price target (up previously from $60.00) on shares of ANI Pharmaceuticals in a research note on Monday, October 16th. ValuEngine raised ANI Pharmaceuticals from a hold rating to a buy rating in a report on Saturday, November 4th. TheStreet raised ANI Pharmaceuticals from a c+ rating to a b rating in a report on Thursday, November 16th. Finally, BidaskClub lowered ANI Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, December 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $71.00.

Shares of ANI Pharmaceuticals (NASDAQ ANIP) traded up $1.78 during trading on Tuesday, hitting $72.41. The stock had a trading volume of 172,700 shares, compared to its average volume of 165,300. ANI Pharmaceuticals has a one year low of $42.23 and a one year high of $74.70. The company has a current ratio of 3.45, a quick ratio of 2.39 and a debt-to-equity ratio of 0.83. The company has a market cap of $821.07, a PE ratio of 114.94 and a beta of 2.90.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Thursday, November 2nd. The specialty pharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. ANI Pharmaceuticals had a return on equity of 22.40% and a net margin of 4.45%. The business had revenue of $48.16 million for the quarter, compared to analysts’ expectations of $48.12 million. During the same quarter in the prior year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. analysts forecast that ANI Pharmaceuticals will post 3.59 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANIP. Dimensional Fund Advisors LP boosted its stake in ANI Pharmaceuticals by 91.1% in the second quarter. Dimensional Fund Advisors LP now owns 339,268 shares of the specialty pharmaceutical company’s stock valued at $15,878,000 after buying an additional 161,743 shares in the last quarter. JPMorgan Chase & Co. raised its position in ANI Pharmaceuticals by 868.2% in the third quarter. JPMorgan Chase & Co. now owns 104,829 shares of the specialty pharmaceutical company’s stock valued at $5,404,000 after purchasing an additional 94,002 shares during the last quarter. Vanguard Group Inc. raised its position in shares of ANI Pharmaceuticals by 8.1% during the second quarter. Vanguard Group Inc. now owns 476,948 shares of the specialty pharmaceutical company’s stock worth $22,322,000 after acquiring an additional 35,722 shares during the last quarter. Cadence Capital Management LLC raised its position in shares of ANI Pharmaceuticals by 422.2% during the third quarter. Cadence Capital Management LLC now owns 33,402 shares of the specialty pharmaceutical company’s stock worth $1,753,000 after acquiring an additional 27,005 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of ANI Pharmaceuticals by 85.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 54,900 shares of the specialty pharmaceutical company’s stock worth $2,882,000 after acquiring an additional 25,300 shares during the last quarter. 55.05% of the stock is currently owned by institutional investors.

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About ANI Pharmaceuticals

ANI Pharmaceuticals, Inc is an integrated specialty pharmaceutical company. The Company is engaged in developing, manufacturing and marketing branded and generic prescription pharmaceuticals. The Company focuses on areas, including controlled substances, anti-cancer (oncolytics), hormones and steroids, and complex formulations.

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