In a recent transaction, Meredith (NYSE:MDP) Cook, Senior Vice President, General Counsel, and Secretary at ANI Pharmaceuticals Inc. (NASDAQ:ANIP), sold 250 shares of the company's common stock. The shares were sold at an average price of $56.24 each, totaling approximately $14,060. Following this sale, Cook holds 55,988 shares in the company. The transaction occurred under a Rule 10b5-1 trading plan, which was adopted on August 11, 2023.ANI Pharmaceuticals, with a market capitalization of $1.09 billion, has demonstrated strong revenue growth of 23.6% over the last twelve months. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 2.74, while analyst price targets range from $62 to $94. The stock currently trades slightly below its Fair Value, suggesting potential upside opportunity. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
In other recent news, ANI Pharmaceuticals has recorded impressive growth, surpassing revenue expectations for the tenth consecutive quarter and reaching $148.3 million in the third quarter of 2024, a 13% increase year-over-year. This success is chiefly attributed to the robust performance of Cortrophin Gel, which experienced a 77% surge in revenue. Leerink Partners initiated coverage on ANI Pharmaceuticals, citing the company's strategic shift towards branded specialty rare disease products as a key factor for its positive outlook. The firm has set a price target of $80.00 and rated the company as Outperform. H.C. Wainwright, another firm, has maintained a Buy rating for ANI Pharmaceuticals and set a target price of $94.00, citing the company's consistent performance and potential for premium valuation. ANI Pharmaceuticals' recent acquisition of Alimera (NASDAQ:ALIM) has also contributed to its growth, with partial-quarter sales from Alimera's products matching projections. ANI Pharmaceuticals is also developing a pre-filled syringe for Cortrophin Gel, slated for launch in the first half of 2025. These are among the recent developments for ANI Pharmaceuticals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.