ANI Pharmaceuticals initiated with a Buy at Jefferies

Jefferies initiated coverage of ANI Pharmaceuticals (ANIP) with a Buy rating and $80 price target The firm expects continued momentum for the shares, driven primarily by Cortrophin Gel and generics. The setup for ANI relative to expectations is favorable, especially in Q1, the analyst tells investors in a research note. The firm believes investors underappreciate the company’s transition towards branded rare disease products and the impact it is having on its growth and margins.