# ANI Pharmaceuticals, Inc. (ANIP)

> Source: Nexqual · https://nexqual.com/ANIP · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, ANI Pharmaceuticals, Inc. (ANIP), nexqual.com/ANIP" · informational, not investment advice.

**Price:** USD 73.16 (+2.02% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 71.71 · day 72.05–73.62 · 52w 69.58–95.57 · market cap $1.68B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $978M, net income $108M (11.1% margin), free cash flow $173M (SEC filings).
- Valuation: P/E 15.5x (avg 37.4x at the last 2 fiscal year-ends), EV/EBITDA 6.9x, net cash $58.7M.
- Analysts: Buy (mean 1.89 on a 1–5 scale) (9 analysts), mean target USD 105.78 (range 85–121).
- Total return with dividends: 1Y -22.0% vs S&P 500 +14.8%; 5Y +95.7% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 2.18, revenue estimate $280M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: ANIP paid no cash dividend in the last five years.
- Short interest: 18.41% of float (as of 2026-10-15), 8.2 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $216M | $316M | $487M | $614M | $883M | $978M |
| Operating income | -$39.8M | -$35.3M | $47.0M | $584K | $111M | $150M |
| Net income | -$42.6M | -$47.9M | $18.8M | -$18.5M | $78.3M | $108M |
| EPS (diluted) | -$3.40 | -$3.05 | $0.85 | -$1.04 | $3.32 | — |
| Free cash flow | $765K | -$40.1M | $110M | $47.8M | $171M | $173M |
| Operating margin | -18.4% | -11.2% | 9.6% | 0.1% | 12.6% | 15.4% |
| Net margin | -19.7% | -15.1% | 3.9% | -3.0% | 8.9% | 11.1% |
| Revenue growth | +3.7% | +46.4% | +53.9% | +26.2% | +43.8% | — |
| Cash + short-term investments | $100M | $48.2M | $221M | $145M | $286M | — |
| Total debt | $287M | $287M | $286M | $318M | $309M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 15.5x · P/S 1.7x · EV/EBITDA 6.9x · EV/Sales 1.7x · P/FCF 9.7x · P/B 2.8x · FCF yield 10.29% · Earnings yield 6.45% · Dividend yield (paid, TTM) 0.02% · Buyback yield (TTM) 1.32% · Net cash $58.7M · EV $1.62B
P/E at fiscal year-ends: Dec 2025 21.4x, Dec 2023 53.4x.

## Analysts
Consensus Buy (mean 1.89 on a 1–5 scale), 9 analysts; mean target USD 105.78 (low 85, high 121).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-23 | Oppenheimer | Initiated | Perform | $85 |
| 2026-08-10 | Guggenheim | Target lowered | Buy | $124 → $119 |
| 2026-08-10 | Canaccord Genuity | Target lowered | Hold | $91 → $90 |
| 2026-07-17 | Canaccord Genuity | Initiated | Hold | $91 |
| 2026-07-10 | Guggenheim | Reiterated | Buy | $124 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -22.0% | +95.7% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -22.1% | +14.3% |
| Volatility (annualized) | 31.5% | 41.5% |
| Max drawdown | -25.7% (Nov 2025→Oct 2026) | -52.1% (Dec 2021→Jun 2022) |

## Dividends
ANIP paid no cash dividend in the last five years.

## Short interest
3,472,078 shares sold short, 18.41% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 2,490,166 shares (+39.4%). Days to cover: 8.2 (short shares ÷ average daily volume).

## Peers (Drug Manufacturers - Specialty & Generic)
SUPN (Supernus Pharmaceuticals, Inc.) USD 41.84 +1.85% · BHC (Bausch Health Companies Inc.) USD 8.91 +28.76% · AMLX (Amylyx Pharmaceuticals, Inc.) USD 28.68 +2.17% · RGC (Regencell Bioscience Holdings L) USD 6.86 -5.64% · LQDA (Liquidia Corporation) USD 44.99 -1.60% · INDV (Indivior Pharmaceuticals, Inc.) USD 35.25 +1.38%

## More
Full page: https://nexqual.com/ANIP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name ANIP in their own reports (relationship from ANIP's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | EyePoint, Inc. (EYPT) | 10-K 2026-03-05 | "the success of current and future license and collaboration agreements, including our agreements with ANI Pharmaceuticals, Inc. (ANI), Equinox Science, LLC (Equinox), and Ocumension Therapeutics (Ocum…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.18 | $2.51 | -13.0% | $280.2M | 9 |
| Next quarter (ends 2026-12-31) | $2.82 | $2.85 | -1.0% | $319.3M | 9 |
| Current fiscal year (ends 2026-12-31) | $9.26 | $9.42 | -1.7% | $1.10B | 9 |
| Next fiscal year (ends 2027-12-31) | $10.13 | $10.76 | -5.9% | $1.22B | 9 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $2.21 | $2.04 | Beat +8.3% | — |
| — | Quarter ended Mar 31, 2026 | $2.05 | $1.30 | Beat +57.7% | — |
| — | Quarter ended Dec 31, 2025 | $2.33 | $1.98 | Beat +17.7% | — |
| — | Quarter ended Sep 30, 2025 | $2.04 | $1.77 | Beat +15.3% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).