Anika Therapeutics (ANIK) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Anika Therapeutics (ANIK) closed at $30.07, marking a -1.92% move from the previous day. This change lagged the S&P 500's daily loss of 1.3%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 5.51%.
Heading into today, shares of the medical technology company had gained 3.58% over the past month, outpacing the Medical sector's loss of 0.54% and lagging the S&P 500's gain of 6.41% in that time.
Wall Street will be looking for positivity from Anika Therapeutics as it approaches its next earnings report date. On that day, Anika Therapeutics is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $38.32 million, up 6.97% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Anika Therapeutics. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Anika Therapeutics is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Anika Therapeutics Inc. (ANIK) : Free Stock Analysis Report
