Guggenheim raises PT on ANI Pharma after Alimera deal completion

ANI Pharmaceuticals

17/09/2024 15:51

(Updates)
    ** Shares of ANI Pharmaceuticals  ANIP.O  rise 6.7% to $60  
    ** Brokerage Guggenheim raises PT on stock to $83 from $77,
retains "buy" rating
    ** New PT represents a 47.7% upside to stock's last close  
    ** Brokerage says updating its model following the close of
the Alimera acquisition 
     ** On Monday, ANIP announced it completed its acquisition
of Alimera Sciences  ALIM.O , expanding its rare disease
business
    ** Brokerage estimates FY24 product revenue of $34.4 mln for
Alimera, including sales of $4.1 mln for the last ~2 weeks of Q3
2024, which will be recorded by ANIP
    ** Says deal to have positive impact on ANIP's outlook
    ** Average rating of 5 brokerages is equivalent to "buy";
median PT is $83
    ** Up to last close, stock up 1.9% YTD  

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))