Anika Therapeutics Inc (NASDAQ: ANIK) received a Buy rating and a $39 price target from Barrington analyst Michael Petusky today. The company’s shares closed yesterday at $34.80, close to its 52-week low of $30.91.
Petusky noted:
“We expect gross margin to bounce back by a few hundred basis points as the year progresses.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 11.9% and a 57.3% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Varian Medical Systems, Merit Medical Systems, and DENTSPLY SIRONA Inc.
Anika Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $39.
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Based on Anika Therapeutics Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $21.26 million and GAAP net loss of $6.69 million. In comparison, last year the company earned revenue of $23.39 million and had a net profit of $5.49 million.
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Anika Therapeutics, Inc. is global medical technology company, which develops, manufactures and commercializes therapeutic products for pain management, tissue regeneration, and wound healing. Its products are based on hyaluronic acid, a natural chemical occurring, biocompatible polymer found throughout the body.
