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Anika Therapeutics, Inc. (ANIK) Message Board

  • culleraa culleraa Aug 7, 2013 1:23 PM Flag

    Revenues up 51%, op margin 51%

    Valuing Anika's franchise seems to be giving the market a problem. Last quarter might be exceptional, but the underlying op margin was 51% after adding back the restructuring and excessive depreciation (capex minimal). The only product of real interest growing revs by 51%. Market is 10% or so penetrated globally, and Anika is no.2. Barriers to entry are now pretty high .

    Despite losing the BL business, op earnings were up some 50% as well. If they can prove they have a pipeline, and make growth sustainable, a PEG ratio of 1 would give a stock price of 80.... (though a P/s ratio of near 14 might be discounting a lot of future).. Market must be thinking they will blow it on another acquisition!

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