Anika Therapeutics (NASDAQ:ANIK) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Key Points

• Anika Therapeutics reported quarterly EPS of $0.29, missing the $0.42 consensus estimate by $0.13, while revenue of $30.59 million exceeded expectations of $29.44 million.
• Revenue increased 10% to $30.6 million, and the company raised its 2026 revenue-growth outlook to 6%–10% and adjusted EBITDA-margin outlook to 15%–17%.
• The FDA said Anika’s Hyalofast U.S. application was not approvable, primarily due to the submitted clinical data; shares fell 24.7% in Friday trading.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) posted its quarterly earnings results on Friday. The biotechnology company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.13), FiscalAI reports. The business had revenue of $30.59 million during the quarter, compared to the consensus estimate of $29.44 million. Anika Therapeutics had a negative net margin of 3.14% and a positive return on equity of 0.20%.

Here are the key takeaways from Anika Therapeutics' conference call:

• Revenue rose 10% to $30.6 million, with commercial revenue up 17% to a record $14 million and OEM revenue up 5%. Integrity grew more than 30% year over year, while international OA pain management revenue increased 19%.
• Anika raised its 2026 total revenue growth outlook to 6%–10% from 5%–10% and its adjusted EBITDA margin outlook to 15%–17% from 13%–17%. The outlook reflects stronger expected OEM growth, partly offset by a lower commercial growth range amid slower summer elective procedures.
• Gross margin improved to 62% from 56% a year ago, and adjusted EBITDA increased to $5.1 million from $0.9 million. The company generated $8.4 million in quarterly operating cash and ended September with $45 million in cash.
• Anika signed a new 10-year Hyvisc distribution agreement that includes higher transfer pricing, royalties, increased minimum purchases, and $8 million in upfront and volume-based payments. The $4 million upfront payment is expected in the first quarter of 2027.
• The FDA notified Anika that the Hyalofast U.S. PMA is not approvable, primarily because of the clinical data submitted; the company is evaluating regulatory pathways and potential additional evidence requirements. Separately, Anika expects to submit the Cingal NDA before the end of 2027, following completion of bioequivalence-study enrollment and ongoing CMC work.

Anika Therapeutics Trading Down 24.7%

Shares of ANIK traded down $4.78 during mid-day trading on Friday, reaching $14.55. 294,030 shares of the stock traded hands, compared to its average volume of 113,114. The company has a market cap of $194.72 million, a price-to-earnings ratio of -53.89, a price-to-earnings-growth ratio of 14.57 and a beta of 0.21. Anika Therapeutics has a 1 year low of $9.01 and a 1 year high of $22.88. The firm has a fifty day moving average price of $20.51 and a 200 day moving average price of $16.23.

Analyst Ratings Changes

A number of research analysts recently weighed in on ANIK shares. Zacks Research lowered shares of Anika Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 28th. B. Riley Financial started coverage on shares of Anika Therapeutics in a report on Friday, September 18th. They set a "buy" rating and a $23.00 target price on the stock. Barrington Research set a $21.00 target price on Anika Therapeutics in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Anika Therapeutics in a report on Monday, September 21st. Finally, Wall Street Zen raised Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Anika Therapeutics has an average rating of "Hold" and an average target price of $22.00.

About Anika Therapeutics

Anika Therapeutics, Inc develops, manufactures and commercializes therapeutic products designed to support tissue protection, healing and repair. The company focuses primarily on orthopedics, with products based in part on hyaluronic acid, a naturally occurring substance found in connective tissue and joint fluid.

Anika's orthopedic portfolio includes Monovisc and Orthovisc, viscosupplementation products used to help relieve pain associated with osteoarthritis of the knee, as well as Cingal, which combines hyaluronic acid with a corticosteroid.

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