In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on ANI Pharmaceuticals Inc (ANIP), with a price target of $89. The company’s shares opened today at $73.15, equals to its 52-week high of $73.15.
Folkes said:
“. Post 1Q19, we are reiterating our Overweight rating and raising our 12-month price target to $89 from $74. The company continues to advance its potentially transformational corticotropin product, and has committed to an sNDA filing goal of 1Q2020, while continuing to deliver strong top line growth. If ANIP is successful in gaining approval for this product, and is able to capture a small portion of the Acthar market, we estimate this could result in an additional $150MM+ in revenue for the company. For context, the midpoint of the company’s 2019 revenue guidance is $238MM.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -1.9% and a 33.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
ANI Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $75.67.
See today’s analyst top recommended stocks >>
The company has a one-year high of $73.15 and a one-year low of $36.92. Currently, ANI Pharmaceuticals Inc has an average volume of 90.48K.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Robert Schrepfer, the SVP – New Bus Dev & Spec Sales of ANIP sold 11,796 shares for a total of $760,131.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
