Specialty pharmaceutical company ANI Pharmaceuticals (NASDAQ: ANIP) will be reporting earnings tomorrow before the bell. Here’s what to look for.
ANI Pharmaceuticals beat analysts’ revenue expectations last quarter, reporting revenues of $237.5 million, up 20.5% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ full-year EPS guidance estimates.
Is ANI Pharmaceuticals a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting ANI Pharmaceuticals’s revenue to grow 22.9% year on year, slowing from the 53.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. ANI Pharmaceuticals has a history of exceeding Wall Street’s expectations.
Looking at ANI Pharmaceuticals’s peers in the pharmaceuticals segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Amneal delivered year-on-year revenue growth of 9.9%, beating analysts’ expectations by 3.6%, and Bristol-Myers Squibb reported revenues up 5.7%, topping estimates by 12.9%. Amneal traded down 4.1% following the results while Bristol-Myers Squibb was up 3.5%.
Read our full analysis of Amneal’s results here and Bristol-Myers Squibb’s results here.
There has been positive sentiment among investors in the pharmaceuticals segment, with share prices up 3.6% on average over the last month. ANI Pharmaceuticals is down 5.8% during the same time and is heading into earnings with an average analyst price target of $110 (compared to the current share price of $79.88).
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