Anika Therapeutics (ANIK) closed the most recent trading day at $31.13, moving +1.83% from the previous trading session. This change outpaced the S&P 500’s 2% loss on the day. At the same time, the Dow lost 2.06%, and the tech-heavy Nasdaq lost 2.32%.
Coming into today, shares of the medical technology company had gained 1.36% in the past month. In that same time, the Medical sector lost 0.95%, while the S&P 500 gained 2.88%.
Wall Street will be looking for positivity from Anika Therapeutics as it approaches its next earnings report date. On that day, Anika Therapeutics is projected to report earnings of -$0.22 per share, which would represent year-over-year growth of 45%. Our most recent consensus estimate is calling for quarterly revenue of $38.32 million, up 6.97% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Anika Therapeutics. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Anika Therapeutics currently has a Zacks Rank of #3 (Hold).
The Medical – Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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