ANI Pharmaceuticals (ANIP) stock is soaring in pre-market trading, up 5.09%, following a series of analyst upgrades that have boosted investor confidence in the pharmaceutical company. The positive momentum comes as multiple financial firms have raised their price targets for ANIP stock, signaling a more optimistic outlook for the company's future performance.

Leading the charge, Raymond James has significantly increased its target price for ANI Pharmaceuticals from $86 to $99. This substantial upgrade suggests that the investment firm sees considerable upside potential for the stock. Similarly, Truist Securities has raised its price target from $65 to $77, although it maintains a Hold rating on the shares. These upgrades follow ANI Pharmaceuticals' recent quarterly earnings beat, which appears to have impressed analysts.

The overall sentiment among analysts remains positive, with ANI Pharmaceuticals maintaining an average rating of Buy. According to analysts polled by FactSet, the mean price target for ANIP stock now stands at $90.50. This bullish outlook from Wall Street experts is likely contributing to the stock's pre-market surge, as investors react to the improved growth prospects for ANI Pharmaceuticals.