Shares of ANI Pharmaceuticals (ANIP) are soaring 5.09% in Monday's intraday trading session, buoyed by a wave of analyst upgrades following the company's strong second-quarter earnings report. The pharmaceutical firm's stock is attracting investor attention as multiple financial institutions revise their outlook on the company's potential.

Leading the optimistic sentiment, Raymond James has significantly raised its price target for ANI Pharmaceuticals to $99 from $86. Similarly, Truist Securities has upped its target to $77 from $65, although it maintains a Hold rating on the stock. These upgrades reflect growing confidence in ANI Pharmaceuticals' business performance and future prospects.

The positive momentum is further reinforced by the broader analyst consensus. According to FactSet, ANI Pharmaceuticals currently holds an average rating of Buy, with a mean price target of $90.50. This bullish outlook suggests that despite the day's substantial gains, analysts see potential for further upside in ANIP's stock price. Investors appear to be responding positively to these optimistic projections, driving the stock's impressive intraday rally.