ANI Pharmaceuticals
Develops rare-disease therapies, niche generics, and established prescription brands.
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Profile
Develops, manufactures, and markets rare-disease therapies, generic drugs, and established prescription brands. Purified Cortrophin Gel anchors Rare Disease and Brands, while a broad generics portfolio and U.S. manufacturing base support launches and cash generation; key products rely on FDA approvals and, in several cases, third-party supply.
Develops, manufactures, and markets prescription medicines through Rare Disease and Brands and Generics and Other. Purified Cortrophin Gel anchors the rare-disease portfolio across certain autoimmune disorders and nephrotic syndrome, while ILUVIEN serves retinal disease and acquired brands cover established therapies. The commercial footprint is centered in the United States, with direct retina operations in selected European markets and partnerships elsewhere.
Builds the generics portfolio through internal R&D, acquired drug applications and product rights, partnerships, and recurring launches. Three U.S. plants support oral solids, liquids, topicals, controlled substances, and other specialized formulations. The model depends on FDA approvals and inspections, competitive generic pricing, reliable launches, and third-party manufacturing; several key products, including Cortrophin Gel and ILUVIEN, use external suppliers, sometimes from a single source.
Company facts
Key statistics
Year to date −7.1% · Average volume (30d) 364.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Guggenheim | Reiterate | Buy | $124 | $119 | |
| Aug 10, 2026 | Canaccord Genuity | Reiterate | Hold | $91 | $90 | |
| Jul 16, 2026 | Canaccord Genuity | Target | $91 | |||
| Jan 16, 2026 | Guggenheim | Reiterate | Buy | $114 | $124 | |
| Oct 9, 2025 | Truist Financial | Target | $60 | $90 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 7, 2026Q2 FY26 | $2.04 | $2.21 | +8.3% | $260.1M | $266.0M | +2.3% | −5.30% |
| May 8, 2026Q1 FY26 | $1.28 | $2.05 | +60.2% | $207.6M | $237.5M | +14.4% | −3.85% |
| Feb 27, 2026Q4 FY25 | $1.99 | $2.33 | +17.1% | $231.1M | $247.1M | +6.9% | +1.79% |
| Nov 7, 2025Q3 FY25 | $1.74 | $2.04 | +17.2% | $232.2M | $227.8M | −1.9% | −1.66% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $197.1M | $211.4M | $227.8M | $247.1M | $237.5M | $266.0M | |
| Gross profit | $124.1M | $136.8M | $111.8M | $237.6M | $123.0M | $165.9M | |
| Operating income | $26.2M | $13.9M | $22.8M | $48.2M | $38.7M | $40.5M | |
| Net income | $15.7M | $8.5M | $24.1M | $27.5M | $29.5M | $24.7M | |
| Diluted EPS | $0.69 | $0.36 | $1.13 | $1.17 | $1.28 | $1.05 | |
| Gross margin | 62.9% | 64.7% | 49.1% | 96.2% | 51.8% | 62.4% | |
| Operating margin | 13.3% | 6.6% | 10.0% | 19.5% | 16.3% | 15.2% |
Fiscal years (4-quarter sums)FY21 $216.1M · FY22 $316.4M · FY23 $486.8M · FY24 $614.4M · FY25 $883.4M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $375.9M · Total debt $330.3M · Total assets $1.49B · Shareholders' equity $597.2M
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 22.73M · Float 19.42M · 85.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.96M | 13.01% | 13F | Aug 7, 2026 |
| Soleus Capital Management, L.P. | 867.8K | 3.82% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 838.2K | 3.69% | 13F | Aug 13, 2026 |
| State Street Corp | 831.6K | 3.66% | 13F | Aug 7, 2026 |
| Tang Capital Management LLC | 707.5K | 3.11% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Nikhil Lalwani | director, officer: PRESIDENT & CEO | −5,400 | $74.30 |
| Aug 13, 2026 | Meredith Cook | officer: SR. VP, GENERAL COUNSEL & SEC. | −500 | $75.48 |
| Aug 10, 2026 | Ori Gutwerg | officer: SVP, GENERICS | −3,162 | $77.00 |
| Jul 29, 2026 | Stephen P. Carey | officer: SVP & CFO | −2,850 | $81.36 |
| Jul 13, 2026 | Meredith Cook | officer: SR. VP, GENERAL COUNSEL & SEC. | −500 | $81.84 |
Peers
- Teva (ADR)
Large U.S. generic-drug rival named in filings.
- Viatris
Scale competitor across generics and established brands.
- AbbVie
Ozurdex and Humira overlap the retina franchise.
- Amneal Pharmaceuticals
Mid-cap U.S. generics and specialty Rx overlap.
- Regeneron
EYLEA franchise pressures ILUVIEN in DME.
- Bausch + Lomb
XIPERE and Retisert overlap NIU-PS steroid care.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ANI Pharmaceuticals | $72.83 | −0.01% | $1.66B | 15.7 | 7.8 | 1.7 | +25.9% |
| Teva (ADR) | $36.30 | −0.36% | $42.44B | 60.7 | 12.9 | 2.5 | −0.8% |
| Viatris | $16.30 | −0.23% | $19.03B | — | 6.4 | 1.3 | +4.9% |
| AbbVie | $255.80 | +0.13% | $451.38B | 72.0 | 16.8 | 7.0 | +10.2% |
| Amneal Pharmaceuticals | $17.54 | 0.00% | $5.60B | 36.0 | 16.9 | 1.8 | +9.9% |
| Regeneron | $793.21 | −0.11% | $81.82B | 19.6 | 13.1 | 5.3 | +16.7% |
| Bausch + Lomb | $17.15 | 0.00% | $6.13B | — | 17.2 | 1.2 | +9.1% |
| Median | 48.4 | 15.0 | 2.1 | +9.5% |