Anika Therapeutics Inc (ANIK) Releases Earnings Results, Beats Expectations By $0.18 EPS

Anika Therapeutics Inc (ANIK) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.45 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.18. Analysts had a consensus of $0.27. The company posted revenue of $22.30 million in the period, compared to analysts expectations of $19.26 million. The company’s revenue was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Many Wall Street Analysts have commented on Anika Therapeutics Inc. Anika Therapeutics Inc was Downgraded by Northland Capital to ” Market Perform” on Apr 27, 2016. Company shares were Reiterated by Barrington Research on Feb 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 49 from a previous price target of $45 .

Anika Therapeutics Inc closed down -0.75 points or -1.54% at $47.88 with 1,55,137 shares getting traded on Friday. Post opening the session at $48.66, the shares hit an intraday low of $47.44 and an intraday high of $48.75 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Aug 11, 2015, John C Moran (director) sold 2,000 shares at $36.18 per share price. According to the SEC, on Aug 3, 2015, Raymond J Land (director) sold 1,708 shares at $37.58 per share price.

Anika Therapeutics Inc. develops manufactures and commercializes therapeutic products for tissue protection healing and repair. The Company’s products are based on hyaluronic acid (HA) a naturally occurring biocompatible polymer found throughout the body. The Company’s wholly owned subsidiary Anika S.r.l. has about 20 products commercialized primarily in Europe. These products are also all made from HA based on two technologies: HYAFF which is a solid form of HA and ACP gel an autocross-linked polymer of HA. The Company’s technologies for modifying the HA molecule allow product properties to be tailored specifically to therapeutic use. The Company offers therapeutic products from these technologies in the areas of: Orthobiologics Dermal (Advanced wound care and Aesthetic dermatology) Surgical (Anti-adhesion and Ear nose and throat care (ENT)) Ophthalmic and Veterinary.

Anika Therapeutics Inc

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