ANI Pharmaceuticals Jumps On Upbeat Results, Increased Outlook Above View

Shares of ANI Pharmaceuticals, Inc. (ANIP) are rising more than 16% Monday morning after reporting better-than-expected first-quarter results. The company also raised its full-year outlook, above analysts’ view.

ANI reported a profit of $1.0 million, or $0.06 per share for the quarter, compared with a loss of $20.5 million or $1.27 per share in the prior year period.

Excluding one-time items, earnings were $1.17 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.35 per share.

Quarterly revenues were $106.8 million, an year-over-year growth of 65.6%. The consensus estimate was for $83.49 million.

Looking forward, the company has raised its full-year revenue guidance to $385 million – $410 million from $360 million – $385 million;

Adjusted earnings per share outlook has been raised to $2.99 – $3.45 from $2.09 – $2.59.

Analysts expect the company to report earnings of $2.43 per share on revenue of $361.82 million for the period.

ANIP is at $45.49 currently. It has traded in the range of $22.31-$52.23 in the last 1 year.

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