ANI Pharmaceuticals (NASDAQ:ANIP) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

ANI Pharmaceuticals (NASDAQ:ANIP) posted its earnings results on Tuesday. The specialty pharmaceutical company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.07, Briefing.com reports. ANI Pharmaceuticals had a return on equity of 17.15% and a net margin of 6.87%. The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $129.09 million. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. ANI Pharmaceuticals updated its FY24 guidance to $4.38-4.82 EPS and its FY 2024 guidance to 4.380-4.820 EPS.

ANI Pharmaceuticals Trading Down 9.9 %

ANI Pharmaceuticals stock opened at $57.01 on Thursday. The company has a current ratio of 3.95, a quick ratio of 3.12 and a debt-to-equity ratio of 0.63. ANI Pharmaceuticals has a 12 month low of $48.20 and a 12 month high of $70.81. The stock’s 50 day simple moving average is $63.00 and its two-hundred day simple moving average is $63.24. The firm has a market cap of $1.20 billion, a PE ratio of 35.63 and a beta of 0.75.

Insider Activity

In other news, COO Muthusamy Shanmugam sold 20,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $58.90, for a total transaction of $1,178,000.00. Following the transaction, the chief operating officer now owns 682,620 shares in the company, valued at approximately $40,206,318. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other ANI Pharmaceuticals news, CFO Stephen P. Carey sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $63.58, for a total value of $317,900.00. Following the completion of the sale, the chief financial officer now directly owns 161,968 shares of the company’s stock, valued at approximately $10,297,925.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Muthusamy Shanmugam sold 20,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $58.90, for a total value of $1,178,000.00. Following the completion of the sale, the chief operating officer now directly owns 682,620 shares of the company’s stock, valued at $40,206,318. The disclosure for this sale can be found here. Insiders have sold 148,202 shares of company stock worth $9,387,374 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $94.00 target price on shares of ANI Pharmaceuticals in a research note on Wednesday. Guggenheim reiterated a “buy” rating and issued a $77.00 target price on shares of ANI Pharmaceuticals in a research note on Tuesday, April 23rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $82.75.

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.