In a report released yesterday, Dewey Steadman from Canaccord Genuity maintained a Buy rating on ANI Pharmaceuticals Inc (NASDAQ: ANIP), with a price target of $82. The company’s shares opened today at $56.31.
Steadman observed:
“We hosted ANI CEO Art Przybyl at our annual Conference this afternoon. ANI is a specialty pharma with foci on niche generics with limited competition, tail specialty brands that require little promotional effort and a newly-expanded contract manufacturing effort specializing in oral solids and liquids. Within its branded business, we see significant optionality around the Cortrophin asset, a legacy ACTH product that ANI could recommercialize to compete against Mallinckrodt’s Acthar Gel. Recent Wellspring acquisition adds substantial manufacturing capacity along with a deeper CMO revenue pool. ANI’s Wellspring deal brings the company an established Canadian CMO with parallel capabilities to the company’s core facilities in Minnesota.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 4.2% and a 39.2% success rate. Steadman covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Perrigo Company plc, and Endo International.
ANI Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $75, a 33.2% upside from current levels. In a report issued on August 7, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $74 price target.
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The company has a one-year high of $74.70 and a one-year low of $43.21. Currently, ANI Pharmaceuticals Inc has an average volume of 102.2K.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.
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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.
