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

Anika Therapeutics (NASDAQ:ANIK) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $41.92 million during the quarter, compared to the consensus estimate of $39.90 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. Anika Therapeutics updated its FY 2024 guidance to EPS.

Anika Therapeutics Price Performance

Shares of NASDAQ ANIK remained flat at $25.68 during trading hours on Friday. The stock had a trading volume of 51,061 shares, compared to its average volume of 66,498. The stock has a market capitalization of $374.59 million, a PE ratio of -4.89 and a beta of 0.83. Anika Therapeutics has a 12 month low of $16.54 and a 12 month high of $29.11. The firm’s fifty day moving average price is $26.49 and its 200 day moving average price is $25.69.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ANIK. Stephens restated an “equal weight” rating and set a $24.00 target price on shares of Anika Therapeutics in a research report on Wednesday, May 29th. Barrington Research restated an “outperform” rating and set a $37.00 price objective on shares of Anika Therapeutics in a report on Friday.

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.