UPDATE: Guggenheim Starts ANI Pharmaceuticals (ANIP) at Buy

(updated to add analyst name and comment)

Guggenheim analyst Dana Flanders initiates coverage on ANI Pharmaceuticals (NASDAQ: ANIP) with a Buy rating and a price target of $76.00.

The analyst comments "ANIP has built its company through a string of low cost, solid ROIC M&A deals, targeting largely discontinued ANDAs and off-patent brands. While we expect an evolution to this model as ANIP grows, we see enough runway against a ~$225M revenue base, low leverage (~1.6x) and it being a buyer’s market in generics."

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 $69.04 yesterday.

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