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

ANI Pharmaceuticals (NASDAQ:ANIP) released its earnings results on Friday. The specialty pharmaceutical company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.25, Briefing.com reports. The firm had revenue of $148.30 million for the quarter, compared to the consensus estimate of $144.37 million. ANI Pharmaceuticals had a net margin of 5.01% and a return on equity of 15.64%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $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

ANIP traded up $0.30 during midday trading on Monday, hitting $61.74. 324,743 shares of the company traded hands, compared to its average volume of 216,177. The company has a quick ratio of 3.07, a current ratio of 3.97 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.30 billion, a PE ratio of -112.25 and a beta of 0.71. The company’s 50-day moving average is $58.61 and its 200 day moving average is $61.47. ANI Pharmaceuticals has a 52 week low of $48.20 and a 52 week high of $70.81.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ANIP shares. StockNews.com downgraded shares of ANI Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. Raymond James increased their price objective on shares of ANI Pharmaceuticals from $81.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. HC Wainwright reissued a “buy” rating and set a $94.00 price objective on shares of ANI Pharmaceuticals in a research report on Monday. Piper Sandler assumed coverage on shares of ANI Pharmaceuticals in a research report on Friday, October 11th. They set an “overweight” rating and a $68.00 price objective on the stock. Finally, Truist Financial increased their price objective on shares of ANI Pharmaceuticals from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.