Leerink Partners Starts ANI Pharmaceuticals (ANIP) at Outperform

Leerink Partners analyst Faisal A. Khurshid initiates coverage on ANI Pharmaceuticals (NASDAQ: ANIP) with a Outperform rating and a price target of $80.00.

The analyst comments "We are initiating coverage of ANI Pharmaceuticals (ANIP) at Outperform as we believe the market is yet to fully appreciate the evolution of the story towards branded drugs with durable growth potential. ANIP is a legacy generics manufacturer that has invested its cash flows towards branded specialty rare disease products that now make up close to ~50% of the business. The generics business provides a fundamental base, and we see decent growth potential in the rare disease products even as they occupy a minor position in their respective disease states. ANIP trades at a modest premium to specialty/generics peers (2025E EV/EBITDA ~9.0x vs. ~8.1x peer mean), and our thesis is that multiple expansion will occur as investors better appreciate the growth opportunity and the company executes on enhancing its rare disease portfolio. Initiate OP; $80 PT (DCF-derived)."

For an analyst ratings summary and ratings history on ANI Pharmaceuticals click here. For more ratings news on ANI Pharmaceuticals click here.

Shares of ANI Pharmaceuticals closed at $59.16 yesterday.

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