Stephen P. Carey, Senior Vice President and Chief Financial Officer of ANI Pharmaceuticals Inc. (NASDAQ:ANIP), a pharmaceutical company currently trading near its 52-week low with a market capitalization of $1.06 billion, sold 7,500 shares of the company's common stock on December 17. According to InvestingPro data, the company maintains strong financial health with an overall score of "GREAT." The shares were sold at a weighted average price of $55.79, resulting in a total transaction value of approximately $418,425. This sale was conducted in multiple trades with prices ranging from $55.29 to $56.30. Following the transaction, Carey retains ownership of 154,468 shares of ANI Pharmaceuticals. While the stock appears slightly undervalued based on InvestingPro's Fair Value analysis, analysts maintain a bullish outlook with price targets ranging from $62 to $94, suggesting significant upside potential. For deeper insights into insider trading patterns and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
In other recent news, ANI Pharmaceuticals is making notable strides in its financial performance and strategic growth. The company has marked the tenth consecutive quarter of surpassing revenue expectations, with a reported 13% increase in total revenues reaching $148.3 million in the third quarter of 2024. This growth was primarily driven by the strong performance of Cortrophin Gel, which saw a 77% surge in revenue.
Leerink Partners initiated coverage on ANI Pharmaceuticals with an Outperform rating and a price target of $80.00, citing the company's transition towards branded drugs as a key factor for its positive outlook. Concurrently, H.C. Wainwright reaffirmed its confidence in the company, maintaining a Buy rating and a $94.00 price target.
ANI Pharmaceuticals recently acquired Alimera (NASDAQ:ALIM), adding ophthalmology products Iluvien and Yutiq to its portfolio. The company is also developing a pre-filled syringe for Cortrophin Gel, aiming for a launch in the first half of 2025. These are among the recent developments for ANI Pharmaceuticals.
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