ANI Pharmaceuticals (ANIP) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw ANI Pharmaceuticals (ANIP) ending at $61.66, denoting a -0.13% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.05%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.64%.
Prior to today's trading, shares of the drugmaker had gained 9.27% over the past month. This has outpaced the Medical sector's loss of 5.29% and the S&P 500's loss of 2.21% in that time.
Investors will be eagerly watching for the performance of ANI Pharmaceuticals in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 8, 2023. On that day, ANI Pharmaceuticals is projected to report earnings of $0.76 per share, which would represent year-over-year growth of 18.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $108.18 million, up 29.06% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.94 per share and a revenue of $446.5 million, signifying shifts of +189.71% and +41.13%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ANI Pharmaceuticals. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.58% decrease. As of now, ANI Pharmaceuticals holds a Zacks Rank of #4 (Sell).
In the context of valuation, ANI Pharmaceuticals is at present trading with a Forward P/E ratio of 15.67. This indicates a discount in contrast to its industry's Forward P/E of 15.92.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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
