Raymond James Downgrades ANI Pharmaceuticals (ANIP) to Outperform

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Raymond James lowered shares of ANI Pharmaceuticals (NASDAQ:ANIP) from a strong-buy rating to an outperform rating in a research note published on Friday, Benzinga reports. They currently have $82.00 price target on the specialty pharmaceutical company’s stock, up from their prior price target of $73.00.

A number of other analysts have also issued reports on ANIP. ValuEngine upgraded ANI Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday. Cantor Fitzgerald reiterated a buy rating and set a $89.00 price objective on shares of ANI Pharmaceuticals in a research note on Thursday. BidaskClub upgraded ANI Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday. Zacks Investment Research lowered ANI Pharmaceuticals from a strong-buy rating to a hold rating in a research note on Tuesday, April 30th. Finally, TheStreet upgraded ANI Pharmaceuticals from a c+ rating to a b rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $79.25.

Shares of NASDAQ:ANIP traded up $0.02 during midday trading on Friday, reaching $73.19. 176,879 shares of the company traded hands, compared to its average volume of 101,972. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.68 and a current ratio of 0.92. ANI Pharmaceuticals has a 12 month low of $36.92 and a 12 month high of $74.00. The firm has a market cap of $867.14 million, a price-to-earnings ratio of 15.88 and a beta of 2.37.

ANI Pharmaceuticals (NASDAQ:ANIP) last released its quarterly earnings data on Thursday, May 9th. The specialty pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.25. ANI Pharmaceuticals had a return on equity of 28.93% and a net margin of 6.58%. The company had revenue of $52.90 million for the quarter, compared to analyst estimates of $50.57 million. During the same period in the previous year, the company posted $1.32 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts predict that ANI Pharmaceuticals will post 5.97 EPS for the current fiscal year.

In other ANI Pharmaceuticals news, insider Arthur Przybyl sold 27,625 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $63.53, for a total value of $1,755,016.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert W. Schrepfer sold 4,651 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $64.43, for a total value of $299,663.93. Following the completion of the transaction, the senior vice president now owns 53,484 shares in the company, valued at $3,445,974.12. The disclosure for this sale can be found here. 24.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC bought a new position in shares of ANI Pharmaceuticals during the 1st quarter valued at about $626,000. Intrust Bank NA bought a new position in shares of ANI Pharmaceuticals during the 1st quarter valued at about $273,000. Sawtooth Solutions LLC bought a new position in shares of ANI Pharmaceuticals during the 1st quarter valued at about $253,000. Argent Capital Management LLC increased its position in shares of ANI Pharmaceuticals by 33.3% during the 1st quarter. Argent Capital Management LLC now owns 40,635 shares of the specialty pharmaceutical company’s stock valued at $2,866,000 after purchasing an additional 10,150 shares during the last quarter. Finally, THB Asset Management increased its position in shares of ANI Pharmaceuticals by 1.1% during the 1st quarter. THB Asset Management now owns 25,431 shares of the specialty pharmaceutical company’s stock valued at $1,793,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 60.50% of the company’s stock.

ANI Pharmaceuticals Company Profile

ANI Pharmaceuticals, Inc, a specialty pharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. It focuses on producing controlled substances, oncolytics (anti-cancers), hormones and steroids, and other formulations. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract manufacturing for other pharmaceutical companies.

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