ANI Pharmaceuticals initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of ANI Pharmaceuticals (ANIP) with an Overweight rating and $85 price target ANI is a specialty pharmaceuticals company with a “well-positioned and durable” portfolio of branded and generic products, the analyst tells investors in a research note. The firm sees a “long runway for growth” for Cortrophin Gel, the company’s lead product, with room for additional uptake in ophthalmology, which JPMorgan says is benefiting from an increased commercial footprint, and other indications, including acute gouty arthritis. The analyst believes ANI will generate sales and earnings growth well ahead of its peers.