ANI Pharmaceuticals (ANIP) AI Stock Analysis

• Market Cap: $1.82B
• Dividend Yield: N/A
• Average Volume (3M): 423.26K
• Price to Earnings (P/E): 50.5
• Beta (1Y): 0.51
• Revenue Growth: 48.87%
• EPS Growth: N/A
• Country: US
• Employees: 897
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 2.04
• Shares Outstanding: 22,458,168
• 10 Day Avg. Volume: 379,098
• 30 Day Avg. Volume: 423,257
• PEG Ratio: 0.28
• Price to Book (P/B): 2.49
• Price to Sales (P/S): 1.74
• P/FCF Ratio: 22.69
• Enterprise Value/Market Cap: 1.26
• Enterprise Value/Revenue: 2.77
• Enterprise Value/Gross Profit: 4.75
• Enterprise Value/Ebitda: 14.01
• 1Y Price Target: $110.80
• Price Target Upside: 34.55% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): 7.52
• Revenue Forecast (FY): $869.54M

• Rating: 64 Neutral
• Price Target: $93.00 ▲(12.93% Upside)

ANI Pharmaceuticals' strong earnings call performance and revenue growth are significant positives, but challenges in profitability and high valuation metrics weigh on the overall score. Technical indicators suggest bearish momentum, adding caution to the outlook.

Positive Factors

Revenue Growth

Significant revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion.

Cash Flow Improvement

Enhanced cash generation capabilities improve financial flexibility, enabling strategic investments and debt reduction.

Rare Disease Business Expansion

Strong growth in the Rare Disease segment, particularly Cortrophin Gel, positions ANI for sustained market leadership and revenue diversification.

Negative Factors

Profitability Challenges

Ongoing profitability issues may hinder reinvestment and shareholder returns, requiring strategic focus on cost management and margin improvement.

Generics Margin Pressure

Margin pressure in the Generics segment could impact overall profitability, necessitating efficiency improvements and cost control measures.

Return on Equity Concerns

Negative ROE indicates challenges in generating shareholder value, highlighting the need for strategic initiatives to enhance profitability.

ANI Pharmaceuticals Business Overview & Revenue Model

Company Description

ANI Pharmaceuticals, Inc., a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. It focuses on producing controlled substances, oncology products, hormones and steroids, injectables, and other formulations. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; and potent products, as well as performs contract development and manufacturing of pharmaceutical products for other companies. It markets its products through retail pharmacy chains, wholesalers, distributors and mail order pharmacies, and group purchasing organizations. The company was incorporated in 2001 and is headquartered in Baudette, Minnesota.

How the Company Makes Money

ANI Pharmaceuticals generates revenue through the sale of its prescription drugs, which include both branded and generic medications. The company's revenue model is primarily based on the direct sales of its pharmaceutical products to wholesalers, pharmacies, and healthcare providers. Key revenue streams include sales from its proprietary branded products and the generic drugs it manufactures. Additionally, ANI Pharmaceuticals benefits from partnerships and collaborations with other pharmaceutical companies, which can include co-development agreements, licensing deals, and supply agreements. These partnerships can provide additional revenue through milestone payments, royalties, and shared profits from jointly developed products. The company also focuses on expanding its product offerings and entering new markets to increase its overall revenue potential.

ANI Pharmaceuticals Financial Statement Overview

Summary

ANI Pharmaceuticals shows strong revenue growth and cash flow generation, but faces challenges in profitability and return on equity. The balance sheet indicates improved leverage management, yet operational efficiency needs enhancement.

Income Statement

ANI Pharmaceuticals has shown a positive revenue growth rate of 10.63% in the TTM, indicating strong sales momentum. However, the net profit margin remains negative, suggesting challenges in achieving profitability. The gross profit margin is healthy at 57.95%, but the EBIT and EBITDA margins are relatively low, indicating potential inefficiencies in operations.

Balance Sheet

The company has improved its debt-to-equity ratio to 0.73 in the TTM, reflecting better leverage management compared to previous periods. However, the return on equity remains negative, indicating that the company is not generating sufficient returns on shareholders' equity. The equity ratio is stable, suggesting a balanced asset structure.

Cash Flow

ANI Pharmaceuticals has demonstrated strong free cash flow growth of 28.75% in the TTM, highlighting improved cash generation capabilities. The operating cash flow to net income ratio is robust, indicating efficient cash conversion. However, the free cash flow to net income ratio suggests that a significant portion of cash flow is not translating into net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	826.88M	614.38M	486.82M	316.38M	216.14M	208.47M
Gross Profit	482.93M	364.17M	305.30M	177.60M	115.53M	121.32M
EBITDA	163.62M	63.12M	106.60M	25.04M	3.12M	28.13M
Net Income	38.09M	-18.52M	18.78M	-47.90M	-42.60M	-22.55M
Balance Sheet
Total Assets	1.41B	1.28B	904.42M	760.09M	771.60M	461.19M
Cash, Cash Equivalents and Short-Term Investments	262.61M	151.17M	221.12M	48.23M	100.30M	7.86M
Total Debt	322.63M	624.09M	285.67M	286.52M	287.37M	185.69M
Total Liabilities	902.34M	855.17M	446.82M	421.55M	412.86M	265.49M
Stockholders Equity	505.82M	428.53M	457.60M	338.54M	358.74M	195.70M
Cash Flow
Free Cash Flow	135.32M	47.06M	100.45M	-47.66M	-20.32M	-53.05M
Operating Cash Flow	170.72M	64.02M	118.96M	-31.20M	3.32M	15.27M
Investing Cash Flow	-43.60M	-404.72M	-18.51M	-15.74M	-105.48M	-68.32M
Financing Cash Flow	-10.21M	264.94M	67.44M	-5.13M	194.59M	-1.44M

ANI Pharmaceuticals Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 82.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANIP, the sentiment is Neutral. The current price of 82.35 is above the 20-day moving average (MA) of 81.91, below the 50-day MA of 87.14, and above the 200-day MA of 76.39, indicating a neutral trend. The MACD of -1.48 indicates Negative momentum. The RSI at 45.11 is Neutral, neither overbought nor oversold. The STOCH value of 44.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ANIP.

ANI Pharmaceuticals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMPH	77 Outperform	$1.18B	11.56	14.84%	―	-0.03%	-27.66%
PCRX	69 Neutral	$1.13B	59.52	2.90%	―	3.14%	―
ANIP	64 Neutral	$1.82B	50.50	7.83%	―	48.87%	―
HROW	61 Neutral	$1.66B	-291.66	-9.54%	―	47.83%	84.72%
AVDL	59 Neutral	$2.09B	-3,890.91	-0.32%	―	79.88%	99.60%
SUPN	55 Neutral	$2.77B	―	-1.86%	―	4.54%	-130.59%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

ANI Pharmaceuticals Corporate Events

ANI Pharmaceuticals Announces Leadership Transition in Board

On November 24, 2025, Patrick D. Walsh announced he would not seek re-election as a director at ANI Pharmaceuticals‘ 2026 Annual Meeting and stepped down as Chairman of the Board. Thomas J. Haughey was elected as the new Chairman, while Jeanne A. Thoma replaced him as Chair of the Audit and Finance Committee. This leadership transition is expected to support ANI’s focus on expanding its Rare Disease business and delivering growth for shareholders.

ANI Pharmaceuticals Highlights November 2025 Financial Strategies

ANI Pharmaceuticals released a corporate presentation in November 2025, highlighting its financial performance and strategic initiatives. The company emphasized its focus on achieving profitability through the commercialization of its approved products and managing the impacts of recent acquisitions, such as Alimera. ANI also discussed various risks and uncertainties affecting its operations, including supply chain disruptions and regulatory challenges, while providing insights into its financial measures like adjusted non-GAAP EBITDA and earnings per share.

ANI Pharmaceuticals Completes Mandatory Conversion of Preferred Shares

On November 19, 2021, ANI Pharmaceuticals completed the acquisition of Novitium Pharma LLC and issued 25,000 shares of Series A Convertible Preferred Stock to Ampersand 2020 Limited Partnership for $25 million. By August 14, 2025, Ampersand converted 5,000 Preferred Shares into 120,580 Common Shares, and on September 26, 2025, the remaining 20,000 Preferred Shares were mandatorily converted into 482,320 Common Shares, resulting in no Preferred Shares remaining outstanding.

ANI Pharmaceuticals Highlights Commercialization Focus Amid Challenges

ANI Pharmaceuticals‘ recent investor presentation highlights the company’s focus on the commercialization of its approved products and the challenges it faces due to acquisitions and supply chain issues. The presentation also discusses the company’s use of adjusted non-GAAP financial measures to provide a clearer picture of its operating performance, although it does not provide a reconciliation for the full-year 2025 adjusted EBITDA guidance due to insufficient information.