Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of ANI Pharmaceuticals (NASDAQ:ANIP), a specialty pharmaceutical company that markets branded and generic pharmaceutical products, soared as much as 11% after filing an 8-K with the Securities and Exchange Commission this morning with its June 2014 corporate presentation attached.

So what: ANI Pharmaceuticals' corporate presentation was an update for investors on how the company has performed historically, and recently, as well as where it's headed next. As ANI points out in its presentation, which can be viewed in its entirety here, its first-quarter 2014 results saw revenue growth of 96% as well as operating income growth of 767% to $3.5 million. What seems to be really exciting investors today is its pipeline update which it notes includes "46 products in development" with six filed abbreviated new drug applications (ANDAs) and another 40 ANDAs in progress. ANI estimates that the current combined market value of these therapies is $2.7 billion. Of course, generics price much lower than branded products so keep that in mind, but its generic growth is clearly taking shape.

Now what: With such a robust generic pipeline it's no wonder that EPS estimates have been screaming higher for ANI Pharmaceuticals over the past couple of months. With a projected growth rate of better than 20% next year and a forward P/E below 17, even following today's spike higher, the insinuation from a fundamental investors' standpoint is that ANI may still be undervalued. However, just to act as a voice of reason as well, consider that generic drugs also weaken margins, so as it introduces more and more of these biosimilar drugs to market its gross margin may dip a bit. I'd hardly call this a deal-breaker for investors, but it's a figure worth monitoring.