ANI Pharmaceuticals (ANIP) Advances While Market Declines: Some Information for Investors
The latest trading session saw ANI Pharmaceuticals (ANIP) ending at $57.03, denoting a +0.92% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.3%.
Prior to today's trading, shares of the drugmaker had lost 0.41% over the past month. This has lagged the Medical sector's gain of 2.32% and the S&P 500's gain of 5.78% in that time.
The investment community will be closely monitoring the performance of ANI Pharmaceuticals in its forthcoming earnings report. The company is scheduled to release its earnings on February 29, 2024. The company's upcoming EPS is projected at $0.78, signifying a 2.63% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $119.38 million, indicating a 26.69% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for ANI Pharmaceuticals. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, ANI Pharmaceuticals is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, ANI Pharmaceuticals is presently being traded at a Forward P/E ratio of 13.92. This valuation marks a discount compared to its industry's average Forward P/E of 21.34.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 97, this industry ranks in the top 39% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report
