ANI Pharmaceuticals (ANIP) Stock Sinks As Market Gains: What You Should Know
ANI Pharmaceuticals (ANIP) ended the recent trading session at $57.63, demonstrating a -1.27% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.13%. On the other hand, the Dow registered a gain of 0.13%, and the technology-centric Nasdaq decreased by 0.32%.
Shares of the drugmaker have appreciated by 3.09% over the course of the past month, underperforming the Medical sector's gain of 3.87% and outperforming the S&P 500's gain of 2.99%.
The investment community will be paying close attention to the earnings performance of ANI Pharmaceuticals in its upcoming release. The company is slated to reveal its earnings on February 29, 2024. On that day, ANI Pharmaceuticals is projected to report earnings of $0.80 per share, which would represent year-over-year growth of 5.26%. Simultaneously, our latest consensus estimate expects the revenue to be $123.02 million, showing a 30.55% escalation compared to the year-ago quarter.
Investors should also pay attention to any latest changes in analyst estimates for ANI Pharmaceuticals. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.81% higher within the past month. ANI Pharmaceuticals is currently a Zacks Rank #2 (Buy).
In the context of valuation, ANI Pharmaceuticals is at present trading with a Forward P/E ratio of 14.18. This denotes a discount relative to the industry's average Forward P/E of 21.39.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ANI Pharmaceuticals, Inc. (ANIP) : Free Stock Analysis Report
