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Investing.com - H.C. Wainwright has reiterated its Buy rating and $84.00 price target on ANI Pharmaceuticals (NASDAQ:ANIP), a pharmaceutical company with a market capitalization of $1.34 billion, despite disappointing clinical trial results for the company’s Iluvien treatment. According to InvestingPro data, the company maintains a "GREAT" financial health score of 3.11, with strong revenue growth of 30% in the last twelve months.
The pharmaceutical company announced on Tuesday that its NEW DAY clinical trial for Iluvien (fluocinolone acetonide intravitreal implant), 0.19 mg, failed to meet statistical significance on its primary endpoint in patients with diabetic macular edema (DME). The news comes as ANI approaches its next earnings report on August 6, with InvestingPro analysts projecting positive earnings for the fiscal year 2025.
Trial data showed that while treatment with Iluvien demonstrated a numerical reduction in the mean number of supplemental aflibercept injections compared to the aflibercept-only arm (2.4 vs. 2.5), the difference did not reach statistical significance (p=0.756).
The study evaluated 154 patients in the Iluvien treatment group against 152 patients in the aflibercept arm over an 18-month period, measuring the mean total number of supplemental aflibercept injections needed.
H.C. Wainwright analyst Brandon Folkes maintained his positive outlook on ANI Pharmaceuticals despite these results, keeping both his Buy rating and $84 price target unchanged. This aligns with the broader analyst consensus, as revealed by InvestingPro data, which shows analyst targets ranging from $65 to $86, suggesting potential upside from current levels. Get access to 7 more exclusive InvestingPro Tips and comprehensive financial analysis in the Pro Research Report, available with your subscription.
In other recent news, ANI Pharmaceuticals reported robust financial results for the first quarter of 2025. The company achieved earnings per share of $1.70, significantly surpassing the projected $1.34. Revenue for the quarter reached $197.1 million, representing a 43% increase compared to the same period last year. These results have drawn positive attention from investors. In addition, ANI Pharmaceuticals announced amendments to its stock incentive and employee stock purchase plans. The number of authorized common stock shares was also increased following approval at the company’s Annual Meeting. Meanwhile, the NEW DAY clinical trial for ILUVIEN in diabetic macular edema patients showed mixed results, with the primary endpoint not reaching statistical significance. Despite this, the company continues to focus on its strategic initiatives and growth plans.
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