ANI Pharmaceuticals (NASDAQ:ANIP) Issues Earnings Results, Beats Expectations By $0.25 EPS

ANI Pharmaceuticals (NASDAQ:ANIP) issued its earnings results on Friday. The specialty pharmaceutical company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.25, Briefing.com reports. The business had revenue of $148.30 million during the quarter, compared to analyst estimates of $144.37 million. ANI Pharmaceuticals had a return on equity of 15.64% and a net margin of 5.01%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. ANI Pharmaceuticals updated its FY 2024 guidance to 4.900-5.050 EPS and its FY24 guidance to $4.90-5.05 EPS.

ANI Pharmaceuticals Stock Performance

Shares of NASDAQ ANIP traded up $0.30 during midday trading on Monday, reaching $61.74. The company’s stock had a trading volume of 324,743 shares, compared to its average volume of 216,177. ANI Pharmaceuticals has a 12-month low of $48.20 and a 12-month high of $70.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.97 and a quick ratio of 3.07. The firm has a 50 day moving average price of $58.61 and a 200-day moving average price of $61.47. The stock has a market capitalization of $1.30 billion, a P/E ratio of -112.25 and a beta of 0.71.

Analyst Ratings Changes

ANIP has been the subject of a number of analyst reports. Piper Sandler initiated coverage on ANI Pharmaceuticals in a research note on Friday, October 11th. They set an “overweight” rating and a $68.00 price target for the company. Raymond James lifted their price target on ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. StockNews.com downgraded ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, September 7th. HC Wainwright reiterated a “buy” rating and set a $94.00 price target on shares of ANI Pharmaceuticals in a research note on Monday. Finally, Truist Financial lifted their price target on ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, ANI Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

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.