ANI Pharmaceuticals stock falls amid Truist downgrade on delayed Alimera deal close
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2024
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Source: SeekingAlpha
ANI Pharmaceuticals Acquisition Delay: ANI Pharmaceuticals' shares dropped 3% after Truist downgraded them to hold due to delays in the acquisition of Alimera Sciences, raising concerns about potential manufacturing deficiencies related to Yutiq.
Alimera Lawsuit and Stock Movement: Alimera's shares initially fell following a lawsuit to compel ANI to finalize the deal but rebounded by 6.7% after confirmation that the acquisition is set to close on Monday.
Analyst Views on ANIP
Wall Street analysts forecast ANIP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ANIP is 113.50 USD with a low forecast of 103.00 USD and a high forecast of 121.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 85.290
Low
103.00
Averages
113.50
High
121.00
Current: 85.290
Low
103.00
Averages
113.50
High
121.00
About ANIP
ANI Pharmaceuticals, Inc. is a diversified biopharmaceutical company engaged in developing, manufacturing, and commercializing therapeutics. Its Rare Disease and Brands segment consists of two reporting units. The Rare Disease unit consists of operations related to the development, manufacturing, and marketing of branded pharmaceutical products, with a focus on products used in the treatment of patients with rare disease conditions and consists of operations related to Cortrophin Gel, ILUVIEN and YUTIQ. In addition, the Brands reporting unit includes a portfolio of over 16 brand products that are principally sold in genericized markets. Its Generics and Other segment consist of operations related to the development, manufacturing, and marketing of generic pharmaceutical products, including those sold through traditional wholesale and retail sales channels, sales of contract manufactured products, royalties on contract manufactured products, product development services, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
