Anika Therapeutics (ANIK) Stock Sinks As Market Gains: What You Should Know
Anika Therapeutics (ANIK) closed at $26.62 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's 0.89% gain on the day. At the same time, the Dow added 1.2%, and the tech-heavy Nasdaq lost 0.68%.
Heading into today, shares of the medical technology company had lost 12.14% over the past month, lagging the Medical sector's loss of 4.48% and the S&P 500's loss of 3.9% in that time.
Wall Street will be looking for positivity from Anika Therapeutics as it approaches its next earnings report date. The company is expected to report EPS of -$0.36, down 80% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $37.16 million, up 1.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.85 per share and revenue of $161.07 million, which would represent changes of +16.67% and +3.1%, respectively, from the prior year.
Any recent changes to analyst estimates for Anika Therapeutics should also be noted by investors. Recent revisions tend to reflect the latest 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 260% lower within the past month. Anika Therapeutics is currently a Zacks Rank #4 (Sell).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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
