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

ANI Pharmaceuticals (NASDAQ:ANIP) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.260-4.670 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Several analysts have recently commented on the company. Capital One Financial initiated coverage on ANI Pharmaceuticals in a research note on Friday, March 15th. They set an overweight rating and a $80.00 price target for the company. HC Wainwright lifted their price target on ANI Pharmaceuticals from $73.00 to $83.00 and gave the company a buy rating in a research note on Monday, March 4th. Guggenheim lifted their price target on ANI Pharmaceuticals from $70.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Finally, Truist Financial lifted their price target on shares of ANI Pharmaceuticals from $72.00 to $80.00 and gave the stock a buy rating in a report on Friday, March 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $80.00.

ANI Pharmaceuticals Price Performance

NASDAQ:ANIP traded up $0.90 during midday trading on Friday, hitting $65.48. The company had a trading volume of 207,268 shares, compared to its average volume of 139,655. ANI Pharmaceuticals has a 52-week low of $36.99 and a 52-week high of $70.81. The stock’s fifty day moving average price is $64.77 and its 200-day moving average price is $58.57. The company has a market capitalization of $1.38 billion, a PE ratio of 77.95 and a beta of 0.79. 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 (NASDAQ:ANIP) last issued its quarterly earnings data on Thursday, February 29th. The specialty pharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.58 by $0.20. The firm 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 earnings per share for the current year.

Insider Activity

In other news, CFO Stephen P. Carey sold 7,787 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.55, for a total transaction of $510,437.85. Following the sale, the chief financial officer now owns 177,712 shares in the company, valued at $11,649,021.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO Muthusamy Shanmugam sold 9,520 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $65.40, for a total value of $622,608.00. Following the sale, the chief operating officer now owns 809,852 shares in the company, valued at $52,964,320.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen P. Carey sold 7,787 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.55, for a total transaction of $510,437.85. Following the completion of the sale, the chief financial officer now owns 177,712 shares in the company, valued at approximately $11,649,021.60. 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 over the last 90 days. 12.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky increased its holdings in ANI Pharmaceuticals by 5.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 3,881 shares of the specialty pharmaceutical company’s stock valued at $209,000 after acquiring an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of ANI Pharmaceuticals by 4.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,435 shares of the specialty pharmaceutical company’s stock worth $316,000 after purchasing an additional 225 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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 purchasing an additional 291 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ANI Pharmaceuticals by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 35,039 shares of the specialty pharmaceutical company’s stock valued at $1,392,000 after buying an additional 384 shares during the period. Finally, American International Group Inc. boosted its position in ANI Pharmaceuticals by 7.2% in the 2nd quarter. American International Group Inc. now owns 6,866 shares of the specialty pharmaceutical company’s stock valued at $204,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 76.05% of the company’s stock.

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.