Non-Core Brands Downside Contribute to ANI Pharma's (ANIP) Revenue Miss; Roth Capital Reiterates Buy

Roth Capital maintained a Buy rating on ANI Pharmaceuticals (NASDAQ: ANIP), and cut the price target to $56.00 (from $60.00), following the company's 3Q15 earnings report. ANIP reported 3Q15 revenues of $20 million, which trailed consensus of $21.4M. The downside appeared to come from non-core branded revenues. Management lowered 2015 revenue guidance to $75.5 - $78.3 million (from $82 - $84 million).

Analyst Scott Henry commented, "ANIP reported weak 3Q15 results with lower revenues and lower guidance. The current quarterly shortfall is driven by non-core products, but the lower guidance appears a function of new competitive EEMT supply. Apples-toapples, we reduced our 2015-16 revenue and EPS forecasts. Still, we find the valuation worth the risk. Maintain Buy rating with a reduced $56/share price target."

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 $39.90 yesterday.

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