ANI Pharmaceuticals (ANIP – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Les Sulewski from Truist Financial remains neutral on the stock and has a $70.00 price target.
Les Sulewski of Truist Financial firm has given a Buy rating to ANI Pharmaceuticals (ANIP) due to a combination of factors. ANIP’s 3rd quarter results exceeded expectations, marking the third quarter in a row to surpass estimates. Sulewski believes that market disruptions, which have aided ANIP’s performance in the past seven quarters, were never expected to continue indefinitely and the subsequent sell-off post-release is an overreaction. He also pointed out that the generics top line is a high single-digit to low double-digit grower, and ANIP’s key product, Cortrophin, continues to perform well without any signs of slowing down.
Despite industry concerns, Sulewski thinks the company’s expanded manufacturing capabilities can continue to deliver growth regardless of competitor disruptions. He acknowledges the recent market disruptions, such as drug shortages and bankruptcies among peers, but believes ANIP’s strong quarter in generics, with a 33% year-on-year growth, indicates the company’s ability to capitalize on these disruptions. The analyst also highlights ANIP’s continual investment in R&D and expansion of its manufacturing facilities in anticipation of inevitable market normalization. He concludes that the underlying fundamentals of ANIP’s generics business remain strong and can still deliver high single-digit to low double-digit growth regardless of competitor dynamics.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $73.00 price target.
ANIP’s price has also changed moderately for the past six months – from $42.580 to $54.320, which is a 27.57% increase.
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ANI Pharmaceuticals (ANIP) Company Description:
ANI Pharmaceuticals, Inc. is a pharmaceutical company, which engages in developing, manufacturing, and marketing branded and generic prescription pharmaceuticals. Its areas of product development include narcotics, oncolytics, hormones and steroids, and complex formulations involving extended release and combination products. The company was founded on August 29, 1996 and is headquartered in Baudette, MN.
Read More on ANIP:
- ANI Pharmaceuticals Reports Record Third Quarter 2023 Financial Results and Raises Full-Year 2023 Guidance
- ANI Pharmaceuticals raises FY23 adj EPS view to $4.29-$4.57 from $3.62-$4.11
- ANI Pharmaceuticals reports Q3 adjusted EPS $1.27, consensus 84c
- ANIP Earnings this Week: How Will it Perform?
- ANI Pharmaceuticals to Participate at Two Upcoming Healthcare Conferences
