In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Buy rating on ANI Pharmaceuticals Inc (NASDAQ: ANIP), with a price target of $74. The company’s shares opened today at $56.32.
Folkes wrote:
“ANIP has executed on its strategy of disciplined business development, acquiring the building blocks of its current portfolio. We expect upwards earnings revisions and pipeline advancements to drive stock outperformance. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $74.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -1.5% and a 41.9% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.
ANI Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $74.50.
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Based on ANI Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.75 million. In comparison, last year the company had a net profit of $4.69 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANIP in relation to earlier this year. Last month, Robert Schrepfer, the SVP – New Bus Dev & Spec Sales of ANIP bought 26,688 shares for a total of $176,141.
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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.
