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

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

Anika Therapeutics Price Performance

ANIK remained flat at $25.68 during midday trading on Friday. 51,061 shares of the company’s stock traded hands, compared to its average volume of 66,498. The firm has a market cap of $374.59 million, a price-to-earnings ratio of -4.89 and a beta of 0.83. The firm has a 50 day moving average of $26.49 and a 200-day moving average of $25.69. Anika Therapeutics has a 1-year low of $16.54 and a 1-year high of $29.11.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $37.00 price objective on shares of Anika Therapeutics in a research report on Friday. Stephens reissued an “equal weight” rating and set a $24.00 price objective on shares of Anika Therapeutics in a research report on Wednesday, May 29th.

Anika Therapeutics Company Profile

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.