Anika Therapeutics (NASDAQ:ANIK) Releases Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Anika Therapeutics (NASDAQ:ANIK) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.24), Yahoo Finance reports. Anika Therapeutics had a positive return on equity of 0.48% and a negative net margin of 45.39%. The business had revenue of $41.92 million during the quarter, compared to analysts’ expectations of $39.90 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. Anika Therapeutics updated its FY 2024 guidance to EPS.

Anika Therapeutics Stock Performance

ANIK stock remained flat at $25.68 during trading on Friday. The company’s stock had a trading volume of 51,061 shares, compared to its average volume of 66,498. Anika Therapeutics has a 52 week low of $16.54 and a 52 week high of $29.11. The firm’s 50 day moving average is $26.49 and its 200 day moving average is $25.69. The company has a market capitalization of $374.59 million, a price-to-earnings ratio of -4.89 and a beta of 0.83.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barrington Research restated an “outperform” rating and issued a $37.00 price target on shares of Anika Therapeutics in a research note on Friday. Stephens restated an “equal weight” rating and issued a $24.00 price target on shares of Anika Therapeutics in a research note on Wednesday, May 29th.

About Anika Therapeutics

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.