Guggenheim starts ANI Pharmaceuticals at Buy on cortrophin gel’s potential

As previously reported, Guggenheim analyst Vamil Divan initiated coverage of ANI Pharmaceuticals with a Buy rating and $55 price target, citing a "bullish view" that is driven primarily by enthusiasm on purified cortrophin gel’s potential. The firm, which thinks cortrophin can reach annual sales of about $220M by 2028, also believes the Novitium acquisition will help drive potential upside in the generics business.