Anika Therapeutics (ANIK) Gains As Market Dips: What You Should Know
In the latest trading session, Anika Therapeutics (ANIK) closed at $31.41, marking a +0.74% move from the previous day. This move outpaced the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the medical technology company had gained 0.58% in the past month. In that same time, the Medical sector lost 1.11%, while the S&P 500 gained 3.6%.
Investors will be hoping for strength from Anika Therapeutics as it approaches its next earnings release. On that day, Anika Therapeutics is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 45%. Our most recent consensus estimate is calling for quarterly revenue 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 revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Anika Therapeutics is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Anika Therapeutics Inc. (ANIK) : Free Stock Analysis Report
