ANI Pharmaceuticals (NASDAQ:ANIP) closed its recent trading session at $61.66, marking a minor drop of 0.13% from its previous close. This occurred even as the Dow and Nasdaq indices climbed by 0.67% and 1.64%, respectively. Despite this slight downward shift, ANIP's shares have recorded a monthly gain of 9.27%, bucking the trend of losses in the Medical sector and the S&P 500.
The company is set to disclose its earnings on November 8, 2023, with an expected earnings per share (EPS) of $0.76, pointing to a year-on-year growth of 18.75%. The forecast also projects net sales to reach $108.18 million, indicating a substantial year-on-year increase of 29.06%.
Zacks Consensus Estimates have predicted ANIP's annual earnings to be $3.94 per share and revenue to total $446.5 million, which would represent significant increases of 189.71% and 41.13%, respectively.
Despite these positive projections, the Zacks Consensus EPS estimate for ANIP recently saw a slight decrease of 1.58%, influenced by short-term business trends. Additionally, ANIP has been given a #4 (Sell) ranking by the Zacks Rank system, which is externally audited and recognized for its impressive track record and average annual return of +25%.
InvestingPro Insights
According to real-time data from InvestingPro, ANI Pharmaceuticals (NASDAQ:ANIP) has a market capitalization of $1170 million and despite a negative P/E ratio of -136.73, the company's revenue growth is on an upward trajectory, with a 59.71% increase over the last twelve months as of Q2 2023. The company's gross profit margin for the same period stands at a healthy 61.63%.
InvestingPro Tips suggest a positive outlook for ANIP. Revenue growth has been accelerating and net income is expected to grow this year. This is supported by the fact that 2 analysts have revised their earnings upwards for the upcoming period. Despite not being profitable over the last twelve months, analysts predict the company will be profitable this year. It's also worth noting that ANIP operates with a moderate level of debt and its liquid assets exceed short term obligations.
With over 14 additional InvestingPro Tips available for ANIP, investors can gain more insights into the company's financial health, future prospects, and market position. These tips provide a comprehensive overview of the company, helping investors make informed decisions.
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