Roth Capital Reiterates Buy On Ani Pharmaceuticals Following 2Q14 Results

In research note published yesterday, Roth Capital analyst Scott Henry reiterated a Buy rating on ANI Pharmaceuticals (ANIP) with a $40 price target, following the company’s second-quarter results.

Henry wrote, “ANIP reported noisy 2Q14 results with revenue of $6.6 million coming in below our $7.1 million target. The reported revenues were negatively impacted by a $3.9M charge (to revenues) for shelf stock adjustments post the recent EEMT price increase. Expenses were also higher, and the reported EPS loss of $0.21 was worse than our targeted EPS loss of $0.13. Overall, we viewed the 2Q14 results as largely noise and not reflective of future quarters”.

The analyst continued, “Management targets launching 2 Teva acquired products in 4Q14 and another in 1Q15. Importantly, one of these products recently had a price increase and potentially has limited supply. Our 2014-15 revenue forecasts for these products remains $250K and $3M, which leaves considerable room for upside surprise, in our opinion. Current revenue forecasts only reflect the capsule versions of this antibiotic. The ability to relaunch the injectable and oral solution versions could more than double these revenue targets if successful, in our opinion. Catalysts for upside include continued progress on the Teva acquisition, potential pricing power for Lithobid, and line extensions for Vancocin”.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 22.7% and a 39.3% success rate. Henry has a -9.1% average return when recommending ANIP, and is ranked #253 out of 3205 analysts.

For more ratings news on ANIP click here.


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