Canaccord Genuity analyst Gary Nachman has initiated coverage on ANI Pharmaceuticals with a Hold rating and a price target of $91. The rating reflects the analyst's assessment of the stock's current valuation and future potential within the market.

Coverage Details

The initiation of coverage provides investors with a benchmark for the pharmaceutical company's performance expectations. The price target of $91 serves as a reference point for the stock's valuation over the near term.

ANI Pharmaceuticals is listed on the NASDAQ under the ticker symbol ANIP.

ANI Pharmaceuticals, Inc. (NASDAQ: ANIP) announced that Judge Sheldon K. Rennie denied its post-trial motions for a new trial and judgment as a matter of law regarding the CG Oncology matter on July 16, 2026. The company intends to appeal the rulings to the Delaware Supreme Court to continue seeking the recovery of the value of assets it sold to CG Oncology under the 2010 Agreement. ANI is also pursuing a 5% running royalty on future worldwide sales of cretostimogene grenadenorepvec.

The trial court's decision rejected ANI's claims for unjust enrichment. Nikhil Lalwani, President and Chief Executive Officer at ANI, stated that the company respectfully disagrees with the court's decision and intends to vigorously pursue its legal rights through the appeal process.

Legal Proceedings and Financial Implications

The dispute centers on the 2010 Agreement between ANI Pharmaceuticals and CG Oncology. The following table outlines the key elements of the ongoing legal matter:

The outcome of the appeal could have significant financial implications for ANI Pharmaceuticals, particularly regarding potential royalties from the sales of cretostimogene grenadenorepvec. The company remains focused on its strategy to recover what it believes is the value of the assets sold in 2010.

ANI Pharmaceuticals is a diversified biopharmaceutical company engaged in developing, manufacturing, and commercializing therapeutics. The company operates through its Rare Disease, Generics, and Brands businesses.