ANI Pharmaceuticals

ANIP · NASDAQ

$72.67+$0.11 (+0.15%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $72.56

ANIP analyst rating

BuyConsensus of 4 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy2
Hold2
Underperform0
Sell0

12-month price target · 11 analysts

Average $106.72 (+46.9% upside)

Low: $85.85
Now: $72.67
High: $127.05

Upgrades and downgrades

The latest rating actions, newest first

ANIP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Oppenheimer	Sep 23, 2026	Initiates	Perform	$85.00	59%
Guggenheim	Aug 10, 2026	Maintains	Buy	$124.00 → $119.00	66%
Canaccord Genuity	Aug 10, 2026	Maintains	Hold	$91.00 → $90.00	57%
Canaccord Genuity	Jul 17, 2026	Initiates	Hold	$91.00	57%
Guggenheim	Jul 10, 2026	Maintains	Buy	$124.00	66%
Guggenheim	Jan 16, 2026	Maintains	Buy	$115.00 → $124.00	66%
Barclays	Dec 9, 2025	Initiates	Overweight	$100.00	53%
Guggenheim	Nov 10, 2025	Maintains	Buy	$114.00 → $115.00	66%

The case for and against

Updated Oct 14, 2026

Bull case

ANI Pharmaceuticals is supported by a strong 2Q 2026 operating beat, with total sales of $266.0M and non-GAAP EPS of $2.21, while higher Generics, Brand Royalties, and other revenues helped offset a softer Cortrophin quarter. Although Cortrophin sales led to a lower FY 2026 guidance range of $520M-$540M, management expects roughly 64% of those revenues in 2H26, backed by a 50% expansion in the sales force and all-time high prescription volumes up 51.4% Y/Y. That setup, combined with steady Iluvien and Brands contributions, growing royalty income, and an estimated over $800M annual Cortrophin run rate by 2029, underpins a constructive long-term view.

Bear case

ANI Pharmaceuticals is viewed negatively because its core growth drivers face meaningful execution risk, with setbacks or delays around Purified Cortrophin Gel, ILUVIEN, and YUTIQ potentially disrupting revenue momentum. While 2Q 2026 Cortrophin revenue is estimated at about $124.5M and FY 2026 guidance is $540M-$575M, the revision lower to $558.3M and the 3.8% sequential decline in 2Q 2026 generics prescription volumes suggest growth may be less durable than expected. The outlook is further pressured by modestly declining generics revenue as exclusivity lapses, plus integration risk from Alimera and intensifying pricing and competitive pressure in generics.

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