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

ANI Pharmaceuticals (NASDAQ:ANIP) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 4.260-4.670 for the period, compared to the consensus EPS 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 Stock Up 1.4 %

Shares of ANIP traded up $0.90 on Friday, hitting $65.48. The company’s stock had a trading volume of 207,268 shares, compared to its average volume of 139,655. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 77.95 and a beta of 0.79. The firm’s fifty day moving average price is $64.77 and its 200-day moving average price is $58.57. 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 fifty-two week low of $36.99 and a fifty-two week high of $70.81.

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

Analyst Upgrades and Downgrades

ANIP has been the topic of several analyst reports. Truist Financial increased their target price on ANI Pharmaceuticals from $72.00 to $80.00 and gave the stock a buy rating in a report on Friday, March 1st. Capital One Financial initiated coverage on ANI Pharmaceuticals in a research report on Friday, March 15th. They set an overweight rating and a $80.00 price objective for the company. Guggenheim raised their price objective on ANI Pharmaceuticals from $70.00 to $77.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Finally, HC Wainwright lifted their target price on ANI Pharmaceuticals from $73.00 to $83.00 and gave the stock a buy rating in a report on Monday, March 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $80.00.

Insider Buying and Selling

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

Hedge Funds Weigh In On ANI Pharmaceuticals

Several institutional investors have recently modified their holdings of ANIP. Point72 Asset Management L.P. grew its position in ANI Pharmaceuticals by 60.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 776 shares of the specialty pharmaceutical company’s stock worth $42,000 after acquiring an additional 291 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in ANI Pharmaceuticals during the 2nd quarter valued at approximately $44,000. Lazard Asset Management LLC bought a new position in ANI Pharmaceuticals during the 4th quarter valued at approximately $55,000. Quantbot Technologies LP bought a new position in ANI Pharmaceuticals during the 1st quarter valued at approximately $64,000. Finally, Systematic Financial Management LP bought a new position in ANI Pharmaceuticals during the 1st quarter valued at approximately $68,000. 76.05% of the stock is currently owned by institutional investors.

ANI Pharmaceuticals Company Profile

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.