(ANIK) Anika Therapeutics - Overview

Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: NASDAQ (USA) | Market Cap: 216m USD | Total Return: 6% in 12m

Joint Preservation, Pain Management, Regenerative Solutions, Implants
Total Rating 55
Safety 86
Buy Signal 0.56
Drug Manufacturers - Specialty & Generic
Industry Rotation: +3.3
Market Cap: 216M
Avg Turnover: 1.74M USD
ATR: 3.90%
Peers RS (IBD): 56.0
Risk 5d forecast
Volatility43.0%
Rel. Tail Risk-16.7%
Reward TTM
Sharpe Ratio0.20
Alpha-5.34
Character TTM
Beta-0.031
Beta Downside1.556
Drawdowns 3y
Max DD71.85%
CAGR/Max DD-0.28
EPS (Earnings per Share) EPS (Earnings per Share) of ANIK over the last years for every Quarter: "2021-03": 0.2, "2021-06": 0.45, "2021-09": 0.04, "2021-12": -0.4, "2022-03": -0.2, "2022-06": -0.2, "2022-09": -0.15, "2022-12": -0.34, "2023-03": -0.47, "2023-06": -0.19, "2023-09": -0.45, "2023-12": -4.3, "2024-03": -0.31, "2024-06": -0.01, "2024-09": -0.25, "2024-12": -0.03, "2025-03": -0.06, "2025-06": -0.33, "2025-09": 0.04, "2025-12": 0.31, "2026-03": 0,
EPS CAGR: 1.27%
EPS Trend: 30.1%
Last SUE: 0.75
Qual. Beats: 0
Revenue Revenue of ANIK over the last years for every Quarter: 2021-03: 34.292, 2021-06: 38.145, 2021-09: 39.536, 2021-12: 35.821, 2022-03: 36.693, 2022-06: 39.657, 2022-09: 40.264, 2022-12: 39.622, 2023-03: 37.924, 2023-06: 44.302, 2023-09: 41.465, 2023-12: 42.971, 2024-03: 40.523, 2024-06: 30.724, 2024-09: 38.753, 2024-12: -1.29, 2025-03: 26.168, 2025-06: 28.219, 2025-09: 27.817, 2025-12: 30.615, 2026-03: null,
Rev. CAGR: -4.71%
Rev. Trend: -28.3%
Last SUE: 0.10
Qual. Beats: 0
Warnings

High Debt/EBITDA (8.1) with thin interest coverage (-4.1)

Interest Coverage Ratio -4.1 is critical

Tailwinds

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Description: ANIK Anika Therapeutics

Anika Therapeutics, Inc. (ANIK) is a joint preservation company focused on early intervention orthopedic care. The company specializes in osteoarthritis (OA) pain management, regenerative solutions, and sports medicine, utilizing a hyaluronic acid (HA) technology platform.

ANIKs product portfolio includes HA-based viscosupplements like Monovisc and Orthovisc for OA pain relief. The company also offers Cingal, a single-injection OA pain management product. In the orthopedic sector, regenerative medicine and sports medicine are growing areas, driven by an aging population and increased participation in sports.

Beyond orthopedics, ANIK develops non-orthopedic HA-based products, including veterinary applications (Hyvisc), anti-adhesion barriers (Hyalobarrier), and treatments for burns and ulcers (Hyalomatrix). The companys diversified approach across human and animal health applications is common among biotechnology firms leveraging core material science expertise.

To deepen your understanding of ANIKs market position and financials, consider exploring its detailed reports on ValueRay.

Headlines to Watch Out For
  • Osteoarthritis pain management product sales drive revenue growth
  • Regenerative solutions and sports medicine product adoption expands market share
  • Regulatory approvals for new HA-based therapies impact commercialization
  • International market expansion increases sales and profitability
  • Competition from alternative orthopedic treatments pressures pricing
Piotroski VR‑10 (Strict) 5.0
Net Income: -10.9m TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA 3.74 > 1.0
NWC/Revenue: 72.20% < 20% (prev 83.11%; Δ -10.91% < -1%)
CFO/TA 0.06 > 3% & CFO 11.2m > Net Income -10.9m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 4.72 > 1.5 & < 3
Outstanding Shares: last quarter (14.7m) vs 12m ago -0.35% < -2%
Gross Margin: 56.56% > 18% (prev 0.64%; Δ 5.59k% > 0.5%)
Asset Turnover: 57.41% > 50% (prev 53.62%; Δ 3.79% > 0%)
Interest Coverage Ratio: -4.14 > 6 (EBITDA TTM -4.09m / Interest Expense TTM 2.37m)
Altman Z'' 4.77
A: 0.43 (Total Current Assets 103.4m - Total Current Liabilities 21.9m) / Total Assets 190.3m
B: 0.32 (Retained Earnings 60.8m / Total Assets 190.3m)
C: -0.05 (EBIT TTM -9.82m / Avg Total Assets 196.5m)
D: 1.20 (Book Value of Equity 56.0m / Total Liabilities 46.8m)
Altman-Z'' Score: 4.77 = AA
Beneish M -3.09
DSRI: 0.97 (Receivables 23.7m/23.6m, Revenue 112.8m/108.7m)
GMI: 1.12 (GM 56.56% / 63.58%)
AQI: 0.90 (AQ_t 0.11 / AQ_t-1 0.12)
SGI: 1.04 (Revenue 112.8m / 108.7m)
TATA: -0.12 (NI -10.9m - CFO 11.2m) / TA 190.3m)
Beneish M-Score: -3.09 (Cap -4..+1) = AA
What is the price of ANIK shares? As of April 07, 2026, the stock is trading at USD 14.80 with a total of 98,847 shares traded.
Over the past week, the price has changed by +4.39%, over one month by +4.46%, over three months by +52.69% and over the past year by +5.96%.
Is ANIK a buy, sell or hold? Anika Therapeutics has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy ANIK.
  • StrongBuy: 2
  • Buy: 1
  • Hold: 0
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the ANIK price?
Analysts Target Price 17.5 18.2%
Anika Therapeutics (ANIK) - Fundamental Data Overview as of 03 April 2026
P/E Forward = 58.1395
P/S = 1.9148
P/B = 1.3544
P/EG = 5.8
Revenue TTM = 112.8m USD
EBIT TTM = -9.82m USD
EBITDA TTM = -4.09m USD
Long Term Debt = 26.2m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.73m USD (from shortTermDebt, two quarters ago)
Debt = 24.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -33.3m USD (from netDebt column, last quarter)
Enterprise Value = 182.7m USD (216.0m + Debt 24.2m - CCE 57.5m)
Interest Coverage Ratio = -4.14 (Ebit TTM -9.82m / Interest Expense TTM 2.37m)
EV/FCF = 41.89x (Enterprise Value 182.7m / FCF TTM 4.36m)
FCF Yield = 2.39% (FCF TTM 4.36m / Enterprise Value 182.7m)
FCF Margin = 3.87% (FCF TTM 4.36m / Revenue TTM 112.8m)
Net Margin = -9.64% (Net Income TTM -10.9m / Revenue TTM 112.8m)
Gross Margin = 56.56% ((Revenue TTM 112.8m - Cost of Revenue TTM 49.0m) / Revenue TTM)
Gross Margin QoQ = 62.65% (prev 56.02%)
Tobins Q-Ratio = 0.96 (Enterprise Value 182.7m / Total Assets 190.3m)
Interest Expense / Debt = 0.49% (Interest Expense 118k / Debt 24.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = -7.76m (EBIT -9.82m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.72 (Total Current Assets 103.4m / Total Current Liabilities 21.9m)
Debt / Equity = 0.17 (Debt 24.2m / totalStockholderEquity, last quarter 143.5m)
 Debt / EBITDA = 8.14 (negative EBITDA) (Net Debt -33.3m / EBITDA -4.09m)
 Debt / FCF = -7.63 (Net Debt -33.3m / FCF TTM 4.36m)
Total Stockholder Equity = 146.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.54% (Net Income -10.9m / Total Assets 190.3m)
RoE = -7.42% (Net Income TTM -10.9m / Total Stockholder Equity 146.6m)
RoCE = -5.68% (EBIT -9.82m / Capital Employed (Equity 146.6m + L.T.Debt 26.2m))
 RoIC = -5.29% (negative operating profit) (NOPAT -7.76m / Invested Capital 146.6m)
 WACC = 5.32% (E(216.0m)/V(240.2m) * Re(5.87%) + D(24.2m)/V(240.2m) * Rd(0.49%) * (1-Tc(0.21)))
Discount Rate = 5.87% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 33.33 | Cagr: 0.08%
[DCF] Terminal Value 80.82% ; FCFF base≈4.36m ; Y1≈2.86m ; Y5≈1.31m
[DCF] Fair Price = 5.59 (EV 41.6m - Net Debt -33.3m = Equity 74.9m / Shares 13.4m; r=6.0% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 30.09 | EPS CAGR: 1.27% | SUE: 0.75 | # QB: 0
Revenue Correlation: -28.27 | Revenue CAGR: -4.71% | SUE: 0.10 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.07 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=1
EPS current Year (2026-12-31): EPS=0.25 | Chg7d=-0.010 | Chg30d=-0.010 | Revisions Net=-1 | Growth EPS=+127.3% | Growth Revenue=+3.9%
EPS next Year (2027-12-31): EPS=0.40 | Chg7d=+0.050 | Chg30d=+0.050 | Revisions Net=+1 | Growth EPS=+60.0% | Growth Revenue=+7.4%
External Resources
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