(ANIK) Anika Therapeutics - Overview
Stock: Injectables, Implants, Resurfacing, Barriers
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 56.4% |
| Relative Tail Risk | -14.9% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.76 |
| Alpha | -52.39 |
| Character TTM | |
|---|---|
| Beta | 0.834 |
| Beta Downside | 0.262 |
| Drawdowns 3y | |
|---|---|
| Max DD | 74.61% |
| CAGR/Max DD | -0.40 |
Description: ANIK Anika Therapeutics January 18, 2026
Anika Therapeutics (NASDAQ: ANIK) is a joint-preservation company that commercializes hyaluronic-acid (HA)-based products for early-intervention orthopedics, covering osteoarthritis (OA) pain management, regenerative solutions, sports-medicine repairs, and arthrosurface joint technologies across the U.S., Europe, and other markets.
Its core OA portfolio includes Monovisc and Orthovisc (injectable HA viscosupplements) and Cingal, a single-injection formulation that combines HA with a corticosteroid to deliver both short- and long-term pain relief. The regenerative line features Hyalofast (a scaffold for cartilage repair) and Tactoset (a calcium phosphate bone void filler), while its sports-medicine offerings target ligament and tendon reconstruction. Non-orthopedic products extend the HA platform to veterinary care (Hyvisc), anti-adhesion barriers (Hyalobarrier), and wound-healing matrices (Hyalomatrix) for burns, ulcers, ENT, and ophthalmic indications.
From a financial-metric standpoint, ANIK reported FY 2024 revenue of approximately $115 million, with a 12 % year-over-year increase driven largely by growth in Cingal sales and expanded European distribution agreements (source: company earnings release). The balance sheet shows $140 million of cash and short-term investments, providing roughly 2.5 years of runway at current burn rates, which mitigates short-term liquidity risk.
Key sector drivers that could amplify ANIK’s upside include: (1) the global HA market is projected to expand at a CAGR of ~7 % through 2030, fueled by an aging population and rising OA prevalence; (2) reimbursement trends in the U.S. are gradually shifting toward value-based pricing for injectable therapies, potentially improving margin sustainability for products like Cingal; and (3) competitive pressure from biosimilar HA injectables remains modest, as ANIK’s single-injection technology offers a differentiated convenience factor that may capture market share.
Assumptions: the revenue growth estimate assumes continued market acceptance of Cingal and no material regulatory setbacks; uncertainty remains around European pricing negotiations and the pace of adoption for regenerative scaffolds, which could materially affect near-term earnings.
For a deeper quantitative view, the ValueRay platform provides a granular breakdown of ANIK’s valuation metrics and scenario analysis.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: -33.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 0.95 > 1.0 |
| NWC/Revenue: 102.0% < 20% (prev 72.31%; Δ 29.65% < -1%) |
| CFO/TA 0.04 > 3% & CFO 8.13m > Net Income -33.0m |
| Net Debt (-33.5m) to EBITDA (20.2m): -1.65 < 3 |
| Current Ratio: 5.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (14.4m) vs 12m ago -2.76% < -2% |
| Gross Margin: 83.04% > 18% (prev 0.48%; Δ 8257 % > 0.5%) |
| Asset Turnover: 38.45% > 50% (prev 66.11%; Δ -27.65% > 0%) |
| Interest Coverage Ratio: 6.22 > 6 (EBITDA TTM 20.2m / Interest Expense TTM 2.25m) |
Altman Z'' 5.72
| A: 0.44 (Total Current Assets 101.6m - Total Current Liabilities 19.1m) / Total Assets 189.4m |
| B: 0.32 (Retained Earnings 60.5m / Total Assets 189.4m) |
| C: 0.07 (EBIT TTM 14.0m / Avg Total Assets 210.4m) |
| D: 1.31 (Book Value of Equity 55.7m / Total Liabilities 42.6m) |
| Altman-Z'' Score: 5.72 = AAA |
Beneish M -3.47
| DSRI: 1.48 (Receivables 22.2m/28.4m, Revenue 80.9m/153.0m) |
| GMI: 0.57 (GM 83.04% / 47.65%) |
| AQI: 1.19 (AQ_t 0.12 / AQ_t-1 0.10) |
| SGI: 0.53 (Revenue 80.9m / 153.0m) |
| TATA: -0.22 (NI -33.0m - CFO 8.13m) / TA 189.4m) |
| Beneish M-Score: -3.47 (Cap -4..+1) = AA |
What is the price of ANIK shares?
Over the past week, the price has changed by +16.87%, over one month by +12.67%, over three months by +10.80% and over the past year by -40.19%.
Is ANIK a buy, sell or hold?
- StrongBuy: 2
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the ANIK price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 16 | 50% |
| Analysts Target Price | 16 | 50% |
| ValueRay Target Price | 7.9 | -25.9% |
ANIK Fundamental Data Overview February 03, 2026
P/S = 1.18
P/B = 0.9067
P/EG = 3.55
Revenue TTM = 80.9m USD
EBIT TTM = 14.0m USD
EBITDA TTM = 20.2m USD
Long Term Debt = 24.5m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.73m USD (from shortTermDebt, last quarter)
Debt = 24.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -33.5m USD (from netDebt column, last quarter)
Enterprise Value = 99.6m USD (133.1m + Debt 24.5m - CCE 58.0m)
Interest Coverage Ratio = 6.22 (Ebit TTM 14.0m / Interest Expense TTM 2.25m)
EV/FCF = 153.7x (Enterprise Value 99.6m / FCF TTM 648.0k)
FCF Yield = 0.65% (FCF TTM 648.0k / Enterprise Value 99.6m)
FCF Margin = 0.80% (FCF TTM 648.0k / Revenue TTM 80.9m)
Net Margin = -40.83% (Net Income TTM -33.0m / Revenue TTM 80.9m)
Gross Margin = 83.04% ((Revenue TTM 80.9m - Cost of Revenue TTM 13.7m) / Revenue TTM)
Gross Margin QoQ = 56.02% (prev 50.90%)
Tobins Q-Ratio = 0.53 (Enterprise Value 99.6m / Total Assets 189.4m)
Interest Expense / Debt = 4.94% (Interest Expense 1.21m / Debt 24.5m)
Taxrate = 21.0% (US default 21%)
NOPAT = 11.1m (EBIT 14.0m * (1 - 21.00%))
Current Ratio = 5.32 (Total Current Assets 101.6m / Total Current Liabilities 19.1m)
Debt / Equity = 0.17 (Debt 24.5m / totalStockholderEquity, last quarter 146.8m)
Debt / EBITDA = -1.65 (Net Debt -33.5m / EBITDA 20.2m)
Debt / FCF = -51.67 (Net Debt -33.5m / FCF TTM 648.0k)
Total Stockholder Equity = 149.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -15.70% (Net Income -33.0m / Total Assets 189.4m)
RoE = -22.14% (Net Income TTM -33.0m / Total Stockholder Equity 149.2m)
RoCE = 8.07% (EBIT 14.0m / Capital Employed (Equity 149.2m + L.T.Debt 24.5m))
RoIC = 7.42% (NOPAT 11.1m / Invested Capital 149.2m)
WACC = 8.20% (E(133.1m)/V(157.6m) * Re(8.99%) + D(24.5m)/V(157.6m) * Rd(4.94%) * (1-Tc(0.21)))
Discount Rate = 8.99% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.98%
[DCF Debug] Terminal Value 69.32% ; FCFF base≈648.0k ; Y1≈425.4k ; Y5≈194.1k
Fair Price DCF = 2.58 (EV 3.67m - Net Debt -33.5m = Equity 37.1m / Shares 14.4m; r=8.20% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 16.87 | EPS CAGR: 1.27% | SUE: 0.10 | # QB: 0
Revenue Correlation: -32.37 | Revenue CAGR: -6.52% | SUE: 0.00 | # QB: 0
EPS next Year (2026-12-31): EPS=0.26 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=+300.0% | Growth Revenue=+4.8%