Anika Therapeutics, Inc.
Anika Therapeutics, Inc. is a medical device company that generates revenue through the sale of medical equipment and supplies, primarily within the healthcare sector.
Business. Anika Therapeutics, Inc. (Nasdaq: ANIK) is a biotechnology company operating within the Health Care sector. The firm generates revenue through the sale of products. Headquarters and specific operating segment or geographic details are not provided in the available data. The company is primarily listed on the Nasdaq stock exchange.
Analyst recommendations
2 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
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- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Anika Therapeutics, Inc. (Nasdaq: ANIK) is a biotechnology company operating within the Health Care sector. The firm generates revenue through the sale of products. Headquarters and specific operating segment or geographic details are not provided in the available data. The company is primarily listed on the Nasdaq stock exchange.
Anika Therapeutics maintains a debt-free capital structure with a debt-to-equity ratio of 0.0 and a robust current ratio of 4.48, indicating strong short-term liquidity coverage. The company holds $38.4 million in cash and equivalents against total assets of $183.5 million and total equity of $137.3 million. Despite this balance sheet strength, the firm generated negative operating cash flow of -$5.5 million and negative free cash flow of -$8.4 million in Q2 2026, driven by a net loss of $1.7 million and significant share repurchases totaling $9.5 million in the period. The cash burn rate is partially offset by interest income and non-cash adjustments, but the negative free cash flow highlights ongoing operational cash consumption.
Profitability metrics remain negative, with a return on equity of -7.93% and a return on assets of -5.93%, reflecting the company's current loss-making status. The gross profit of $40.2 million on revenue of $62.2 million suggests a gross margin of approximately 64.7%, which is typical for specialized medical device manufacturers, but operating expenses exceed gross profit, resulting in an operating loss of $2.5 million. The company does not have cohort median data provided for direct comparison, but the negative returns indicate that the business is not yet generating positive economic returns on its invested capital. The high stock-based compensation expense of $8.5 million in the first half of 2026 further pressures operating income, although it is a non-cash charge.
- Anika Therapeutics maintains a debt-free balance sheet with a strong current ratio of 4.48, but generates negative free cash flow of -$8.4 million in Q2 2026.
- The company reported a net loss of $1.7 million in Q2 2026, an improvement from the $8.8 million loss in the same period in 2025, driven by operational efficiencies and reduced losses.
- Inventory levels have increased significantly to $31.1 million, with raw materials and work-in-process growing, suggesting potential future production or sales cycles.
- Analyst sentiment is positive, with a mean price target of $19.00 and a mean recommendation of 1.50, indicating expectations for future growth and profitability.
- The company engaged in significant share repurchases of $9.5 million in the first half of 2026, demonstrating management's confidence in the company's long-term value.
- Risk factors include the need for sales growth to manage operational expansion and the potential for inventory write-downs if demand does not meet expectations.
Bull / Bear case
Generated · model-assistedAnalysts assign a strong buy rating with a mean price target of $19.00, implying 29.5% upside from the current market price.
The company maintains a debt-to-equity ratio of 0.0, indicating a low leverage band and minimal financial risk from debt obligations.
Low dilution and liquidity risk flags suggest stable capital structure and adequate access to funds for ongoing operations and growth.
Revenue declined at a two-year CAGR of 15.2% from FY2023 to FY2025, signaling a persistent contraction in top-line growth.
Cash conversion ratio of -1.03 places the company in the bottom quartile of the biotechnology cohort, reflecting poor cash generation efficiency.
In focus — financials by report
Revenue $62.2M; Operating income -$2.5M.
- ▍Revenue $62.2M
- ▍Operating income -$2.5M
- ▍Net margin -2.8%
Revenue $29.6M; Operating income -$5.5M.
- ▍Revenue $29.6M
- ▍Operating income -$5.5M
- ▍Net margin -17.1%
Revenue $112.8M; Operating income -$11.1M.
- ▍Revenue $112.8M
- ▍Operating income -$11.1M
- ▍Net margin -9.6%
Revenue $119.9M; Operating income -$5.1M.
- ▍Revenue $119.9M
- ▍Operating income -$5.1M
- ▍Net margin -47.0%
Revenue $119.9M; Operating income -$5.1M.
- ▍Revenue $119.9M
- ▍Operating income -$5.1M
- ▍Net margin -47.0%
Revenue $166.7M; Operating income -$87.6M.
- ▍Revenue $166.7M
- ▍Operating income -$87.6M
- ▍Net margin -49.6%
Revenue $120.8M; Operating income $844.0k.
- ▍Revenue $120.8M
- ▍Operating income $844.0k
- ▍Net margin -68.4%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,21 |
| Revenue | —no estimate | —no estimate | 120,3M USD |
| Operating income | —no estimate | —no estimate | -12,2M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- No immediate filing-based liquidity or dilution flags were detected.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director, President and CEO · Restricted Stock Unit → Common StockDisposed 12 840exercise · 2026-06-03
- SVP, CAO & Treasurer · Premium Priced Stock Appreciation Rights → Common StockAcquired 17 663 @ $15,60grant · 2026-03-19
- SVP, CAO & Treasurer · Restricted Stock Unit → Common StockAcquired 11 194grant · 2026-03-19
- SVP, CAO & Treasurer · Restricted Stock Unit → Common StockAcquired 13 097grant · 2026-03-19
- EVP, General Counsel, Corp Sec · Restricted Stock Unit → Common StockDisposed 6 449exercise · 2026-03-15
- Director · Restricted Stock Unit → Common StockDisposed 25 131exercise · 2026-03-15
- SVP, CAO & Treasurer · Restricted Stock Unit → Common StockDisposed 2 658exercise · 2026-03-15
- Director · Restricted Stock Unit → Common StockDisposed 24 519exercise · 2026-03-14
- EVP, General Counsel, Corp Sec · Restricted Stock Unit → Common StockDisposed 9 388exercise · 2026-03-14
- Director, President and CEO · Restricted Stock Unit → Common StockDisposed 12 824exercise · 2026-03-14
- SVP, CAO & Treasurer · Restricted Stock Unit → Common StockDisposed 3 774exercise · 2026-03-14
- SVP, CAO & Treasurer · Restricted Stock Unit → Common StockDisposed 2 197exercise · 2026-03-09
- Director · Restricted Stock Unit → Common StockDisposed 20 001exercise · 2026-03-09
- EVP, General Counsel, Corp Sec · Restricted Stock Unit → Common StockDisposed 5 465exercise · 2026-03-09
- Director, President and CEO · Stock Appreciation Rights → Common StockAcquired 310 207 @ $9,23grant · 2026-02-01
- Director, President and CEO · Restricted Stock Unit → Common StockAcquired 130 402grant · 2026-02-01
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Cash Conversion Ratiooperating_cash_flow / net_income
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Market Capmarket_price * shares_outstanding_diluted
- Anika Therapeutics, Inc. company facts · 2026-07-30
- Anika Therapeutics, Inc. 10-Q 2026-07-29 · 2026-07-30
- Anika Therapeutics, Inc. 10-Q 2026-04-30 · 2026-07-30
- Anika Therapeutics, Inc. 10-K 2026-03-03 · 2026-07-30
- Anika Therapeutics, Inc. 10-Q 2025-11-05 · 2026-07-30
- 8-K (sec_8k_material) on ANIK · 2026-07-30
- Anika Therapeutics Inc Market data — analyst estimates · 2026-07-30
- Anika Therapeutics Inc Market data — ESG · 2026-07-30
- Anika Therapeutics, Inc. HA canonical relationships · 2026-07-30
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,00 %$4M
- Investment Managers · as of 2026-03-310,00 %$7M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2024-06-300,00 %$41M
- Investment Managers · as of 2026-03-310,00 %$13M
- Investment Managers · as of 2026-03-310,00 %$3M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$5M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2024-12-310,00 %$1M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$5M
- Investment Managers · as of 2025-12-310,00 %$7M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Funds · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
Leadership
- Stephen D. GriffinPresident, Chief Executive Officer, Director
Insider activity
- Director · Common StockOther 10 402 · 2026-06-18
- Director · Common StockOther 10 402 · 2026-06-18
- Director · Common StockOther 10 402 · 2026-06-18
- Director · Common StockOther 10 402 · 2026-06-18
- Director · Common StockOther 10 402 · 2026-06-18
- Director, President and CEO · Common StockOther 12 840 · 2026-06-03
- Director, President and CEO · Common StockOther 3 769 @ $14,41$54K · 2026-06-03
- Director · Common StockBought 5 000 @ $14,66$73K · 2026-05-01
- Director, President and CEO · Common StockBought 12 200 @ $12,29$150K · 2026-04-30
- SVP, CAO & Treasurer · Common StockOther 2 658 · 2026-03-15
- EVP, General Counsel, Corp Sec · Common StockOther 6 449 · 2026-03-15
- EVP, General Counsel, Corp Sec · Common StockOther 1 893 @ $14,20$27K · 2026-03-15
- Director · Common StockOther 12 104 @ $14,20$172K · 2026-03-15
- SVP, CAO & Treasurer · Common StockOther 781 @ $14,20$11K · 2026-03-15
- Director · Common StockOther 25 131 · 2026-03-15
- Director, President and CEO · Common StockOther 6 412 · 2026-03-14
- EVP, General Counsel, Corp Sec · Common StockOther 9 388 · 2026-03-14
- EVP, General Counsel, Corp Sec · Common StockOther 4 694 · 2026-03-14
- EVP, General Counsel, Corp Sec · Common StockOther 4 168 @ $14,20$59K · 2026-03-14
- Director, President and CEO · Common StockOther 12 824 · 2026-03-14
- Director, President and CEO · Common StockOther 5 944 @ $14,20$84K · 2026-03-14
- Director · Common StockOther 24 519 · 2026-03-14
- Director · Common StockOther 24 520 · 2026-03-14
- Director · Common StockOther 14 728 @ $14,20$209K · 2026-03-14
- SVP, CAO & Treasurer · Common StockOther 3 774 · 2026-03-14
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Revenue (annual): USD 112.82MUnknown
- Cash & equivalents (annual): USD 57.48MUnknown
- Current assets (annual): USD 103.36MUnknown
- Net income (annual): USD -11MUnknown
- EPS (diluted) (annual): USD-PER-SHARES -1Unknown
- EPS (basic) (annual): USD-PER-SHARES -1Unknown
- Current liabilities (annual): USD 21.91MUnknown
- Capex (annual): USD 6.83MUnknown
- Shares outstanding (annual): 13.89MUnknown
- Cost of revenue (annual): USD 49.01MUnknown
- Total assets (annual): USD 190.27MUnknown
- Operating income (annual): USD -11.05MUnknown
- R&D expense (annual): USD 25.77MUnknown
- Gross profit (annual): USD 63.81MUnknown
- Pre-tax income (annual): USD -9.31MUnknown
- Operating cash flow (annual): USD 11.19MUnknown
- Shareholders' equity (annual): USD 143.47MUnknown
- Pre-tax income (annual): USD -2.76MUnknown
- R&D expense (annual): USD 25.54MUnknown
- Gross profit (annual): USD 76MUnknown
- Revenue (annual): USD 119.91MUnknown
- Cash & equivalents (annual): USD 55.63MUnknown
- Capex (annual): USD 7.73MUnknown
- Current liabilities (annual): USD 23.31MUnknown