ANIK Stock Summary and Trading Ideas (Anika Therapeutics | NASDAQ:ANIK)

Anika Therapeutics Inc is an orthopedic medicines company. It is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies. The company focuses on orthopedics, including osteoarthritis pain management, regenerative solutions, soft tissue repair, and bone preserving joint technologies. Geographically, it derives a majority of its revenue from the United States.

Anika Therapeutics trades on the NASDAQ stock market under the symbol ANIK.

As of May 14, 2024, ANIK stock price climbed to $25.59 with 26,771 million shares trading.

ANIK has a beta of 0.55, meaning it tends to be less sensitive to market movements. ANIK has a correlation of 0.04 to the broad based SPY ETF.

ANIK has a market cap of $379.46 million. This is considered a Small Cap stock.

Last quarter Anika Therapeutics reported $41 million in Revenue and $.09 earnings per share. This beat revenue expectation by $1 million and exceeded earnings estimates by $.28.

In the last 3 years, ANIK stock traded as high as $48.37 and as low as $16.54.

The top ETF exchange traded funds that ANIK belongs to (by Net Assets): VTI, IWM, VXF, IWN, DFAT.

ANIK has underperformed the market in the last year with a price return of +1.7% while the SPY ETF gained +28.8%. However, in the short term, ANIK had mixed performance relative to the market. It has outperformed in the last 3 months, returning +9.8% vs +6.2% return in SPY. But in the last 2 weeks, ANIK shares have been beat by the market, returning -1.5% compared to an SPY return of +2.6%.

ANIK support price is $25.04 and resistance is $26.08 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ANIK stock will trade within this expected range on the day.