Why ANI Pharmaceuticals Stock Is Soaring Today

ANI Pharmaceuticals Inc's ANIP Q1 revenues were $106.8 million, +65.6% Y/Y, beating the consensus of $83.49 million.

Net revenues for generic pharmaceutical products were $63.7 million, up 29.7%, driven by increased volume from the annualization of 2022 launches and a favorable product mix.

Net revenues of rare disease pharmaceutical products, which consist entirely of sales of Cortrophin Gel, were $16.3 million, in-line with the company's expectations.

Adjusted EPS of $1.17, a turnaround from an EPS loss of $(0.12), beat the consensus of $0.82.

Guidance: For FY23, ANIP raised net revenue guidance to $385-$410.0 million versus the prior guidance of $360-$385 million and consensus of $361.82 million.

Maintains Cortrophin Gel specific revenue guidance of $80-$90.0 million.

The company expects adjusted EBITDA of $97-$107.0 million as compared to previously issued guidance of $78-$88.0 million.

ANIP forecasts adjusted EPS of $2.99-$3.45 versus prior guidance of $2.09-$2.59 and consensus of $2.43.

Price Action: ANIP shares are up 13.20% at $44.13 on the last check Monday.