ANI Stock Is Up 49% This Past Year, Revenue Is Surging, and One Fund Still Walked Away

Core Insights - Stonepine Capital Management has fully exited its position in ANI Pharmaceuticals, selling 38,597 shares for a total of $2.52 million, marking a complete divestment as of September 30 [2][3][6] Company Overview - ANI Pharmaceuticals has a market capitalization of $1.85 billion, with a trailing twelve months (TTM) revenue of $826.89 million and a net income of $40.57 million [5] - The company's stock price as of the latest report is $82.41, reflecting a 49% increase over the past year, significantly outperforming the S&P 500, which has risen about 15% in the same timeframe [4] Business Performance - In the third quarter, ANI Pharmaceuticals reported a 54% year-over-year revenue increase to $227.8 million, with adjusted EBITDA rising nearly 70% to $59.6 million [12] - The company has raised its full-year revenue guidance to a range of up to $873 million and adjusted EBITDA to as much as $228 million, with rare disease therapies expected to contribute approximately half of total sales by 2025 [12] Market Position - ANI Pharmaceuticals operates as a specialty and generic drug manufacturer, focusing on controlled substances, oncology products, hormones, steroids, injectables, and oral solid dose formulations [8][9] - The company serves a diverse customer base, including retail pharmacy chains, wholesalers, distributors, mail order pharmacies, and group purchasing organizations across the U.S. and Canada [9][10] Strategic Insights - The exit by Stonepine Capital Management appears to be a capital rotation rather than a lack of confidence in ANI Pharmaceuticals, as the fund's remaining holdings are more focused on earlier-stage biotech companies [13] - ANI's fundamentals remain strong, with future returns likely dependent on sustained growth in rare disease therapies and maintaining margin discipline rather than relying on multiple expansions [13]