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Anika Therapeutics

Nasdaq:ANIK
Snowflake Description

Excellent balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ANIK
Nasdaq
$541M
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Anika Therapeutics, Inc., together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The last earnings update was 18 days ago. More info.


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ANIK Share Price and Events
7 Day Returns
3.1%
NasdaqGS:ANIK
-0.3%
US Biotechs
-2.1%
US Market
1 Year Returns
-5.5%
NasdaqGS:ANIK
-5%
US Biotechs
1.3%
US Market
ANIK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Anika Therapeutics (ANIK) 3.1% 17.9% 12.2% -5.5% -19.6% -18.7%
US Biotechs -0.3% -2.5% -5.2% -5% 4.2% 10.1%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • ANIK underperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
ANIK
Industry
5yr Volatility vs Market

ANIK Value

 Is Anika Therapeutics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Anika Therapeutics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Anika Therapeutics.

NasdaqGS:ANIK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:ANIK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.38
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.379 (1 + (1- 21%) (4.31%))
1.285
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.285 * 5.96%)
10.39%

Discounted Cash Flow Calculation for NasdaqGS:ANIK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Anika Therapeutics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:ANIK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.39%)
2019 19.69 Analyst x2 17.84
2020 18.73 Analyst x2 15.37
2021 27.20 Analyst x1 20.22
2022 27.74 Est @ 1.99% 18.68
2023 28.35 Est @ 2.21% 17.29
2024 29.02 Est @ 2.37% 16.04
2025 29.74 Est @ 2.48% 14.89
2026 30.50 Est @ 2.55% 13.83
2027 31.29 Est @ 2.61% 12.85
2028 32.12 Est @ 2.64% 11.95
Present value of next 10 years cash flows $158.95
NasdaqGS:ANIK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $32.12 × (1 + 2.73%) ÷ (10.39% – 2.73%)
$430.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $430.69 ÷ (1 + 10.39%)10
$160.25
NasdaqGS:ANIK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $158.95 + $160.25
$319.20
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $319.20 / 14.21
$22.47
NasdaqGS:ANIK Discount to Share Price
Calculation Result
Value per share (USD) From above. $22.47
Current discount Discount to share price of $38.09
= -1 x ($38.09 - $22.47) / $22.47
-69.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Anika Therapeutics is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Anika Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Anika Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:ANIK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.09
NasdaqGS:ANIK Share Price ** NasdaqGS (2019-05-24) in USD $38.09
United States of America Biotechs Industry PE Ratio Median Figure of 35 Publicly-Listed Biotechs Companies 17.95x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Anika Therapeutics.

NasdaqGS:ANIK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ANIK Share Price ÷ EPS (both in USD)

= 38.09 ÷ 2.09

18.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anika Therapeutics is overvalued based on earnings compared to the US Biotechs industry average.
  • Anika Therapeutics is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Anika Therapeutics's expected growth come at a high price?
Raw Data
NasdaqGS:ANIK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-23.3%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 28 Publicly-Listed Biotechs Companies 1.19x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

NasdaqGS:ANIK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.23x ÷ -23.3%

-0.78x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anika Therapeutics earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Anika Therapeutics's assets?
Raw Data
NasdaqGS:ANIK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $18.93
NasdaqGS:ANIK Share Price * NasdaqGS (2019-05-24) in USD $38.09
United States of America Biotechs Industry PB Ratio Median Figure of 418 Publicly-Listed Biotechs Companies 3.19x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NasdaqGS:ANIK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ANIK Share Price ÷ Book Value per Share (both in USD)

= 38.09 ÷ 18.93

2.01x

* Primary Listing of Anika Therapeutics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Anika Therapeutics is good value based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Anika Therapeutics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Anika Therapeutics has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ANIK Future Performance

 How is Anika Therapeutics expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-23.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Anika Therapeutics expected to grow at an attractive rate?
  • Anika Therapeutics's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Anika Therapeutics's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Anika Therapeutics's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:ANIK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:ANIK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -23.3%
NasdaqGS:ANIK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 0.7%
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 22.4%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 17.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:ANIK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:ANIK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 109 1
2020-12-31 104 22 17 3
2019-12-31 102 25 18 3
NasdaqGS:ANIK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 109 34 30
2018-12-31 106 35 19
2018-09-30 108 32 19
2018-06-30 108 33 18
2018-03-31 111 35 20
2017-12-31 113 41 32
2017-09-30 113 40 32
2017-06-30 111 39 34
2017-03-31 104 32 31
2016-12-31 103 24 33
2016-09-30 106 34 36
2016-06-30 103 31 35

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Anika Therapeutics's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Anika Therapeutics's revenue is expected to grow by 0.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:ANIK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Anika Therapeutics Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ANIK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.55 1.55 1.55 1.00
2020-12-31 1.26 1.45 1.12 3.00
2019-12-31 1.28 1.31 1.22 3.00
NasdaqGS:ANIK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.09
2018-12-31 1.30
2018-09-30 1.31
2018-06-30 1.26
2018-03-31 1.34
2017-12-31 2.18
2017-09-30 2.19
2017-06-30 2.32
2017-03-31 2.13
2016-12-31 2.22
2016-09-30 2.40
2016-06-30 2.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Anika Therapeutics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Anika Therapeutics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Anika Therapeutics has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ANIK Past Performance

  How has Anika Therapeutics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Anika Therapeutics's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Anika Therapeutics's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Anika Therapeutics's 1-year earnings growth exceeds its 5-year average (52.3% vs -8%)
  • Anika Therapeutics's earnings growth has not exceeded the US Biotechs industry average in the past year (52.3% vs 54.9%).
Earnings and Revenue History
Anika Therapeutics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Anika Therapeutics Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ANIK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 109.01 29.92 25.64 17.29
2018-12-31 105.56 18.72 28.14 18.19
2018-09-30 107.99 19.07 28.69 18.39
2018-06-30 108.38 18.36 27.81 20.00
2018-03-31 111.30 19.64 26.36 19.72
2017-12-31 113.42 31.82 21.54 18.79
2017-09-30 112.76 31.83 20.35 17.48
2017-06-30 111.36 33.90 19.81 14.46
2017-03-31 104.48 31.15 19.09 12.80
2016-12-31 103.38 32.55 18.01 10.73
2016-09-30 105.55 35.51 17.05 10.09
2016-06-30 103.44 34.93 16.08 9.33
2016-03-31 99.76 34.14 15.21 8.35
2015-12-31 93.00 30.76 14.83 8.29
2015-09-30 85.36 27.53 13.97 7.95
2015-06-30 83.73 25.32 14.71 7.89
2015-03-31 87.10 26.80 15.19 7.95
2014-12-31 105.60 38.32 15.07 8.14
2014-09-30 103.59 37.16 13.80 8.19
2014-06-30 99.29 35.94 12.95 7.81
2014-03-31 93.84 32.54 12.48 7.76
2013-12-31 75.08 20.58 12.94 7.06
2013-09-30 76.44 18.38 14.20 6.37
2013-06-30 73.45 15.07 14.62 5.97
2013-03-31 72.24 12.91 15.32 5.44
2012-12-31 71.36 11.76 14.73 5.39
2012-09-30 67.20 10.18 15.93 5.58
2012-06-30 70.89 11.51 17.04 5.89

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Anika Therapeutics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Anika Therapeutics used its assets less efficiently than the US Biotechs industry average last year based on Return on Assets.
  • Anika Therapeutics's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Anika Therapeutics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Anika Therapeutics has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ANIK Health

 How is Anika Therapeutics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Anika Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Anika Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Anika Therapeutics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Anika Therapeutics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Anika Therapeutics Company Filings, last reported 1 month ago.

NasdaqGS:ANIK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 269.07 23.31 166.74
2018-12-31 263.61 0.00 159.01
2018-09-30 255.27 0.00 149.01
2018-06-30 246.60 0.00 139.30
2018-03-31 263.77 0.00 163.05
2017-12-31 263.49 0.00 157.26
2017-09-30 253.29 0.00 152.71
2017-06-30 244.14 0.00 142.87
2017-03-31 230.03 0.00 138.62
2016-12-31 222.77 0.00 124.76
2016-09-30 214.54 0.00 120.30
2016-06-30 204.42 0.00 111.63
2016-03-31 195.37 0.00 115.84
2015-12-31 210.85 0.00 138.46
2015-09-30 199.75 0.00 130.48
2015-06-30 190.57 0.00 122.43
2015-03-31 181.82 0.00 112.30
2014-12-31 178.10 0.00 106.91
2014-09-30 169.70 0.00 91.77
2014-06-30 162.39 0.00 84.88
2014-03-31 156.57 0.00 82.16
2013-12-31 135.63 0.00 63.33
2013-09-30 128.21 8.40 64.06
2013-06-30 119.43 8.80 54.14
2013-03-31 112.83 9.20 50.97
2012-12-31 108.93 9.60 44.07
2012-09-30 103.47 10.00 39.86
2012-06-30 100.75 10.40 37.91
  • Anika Therapeutics's level of debt (8.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 8.7% today).
  • Debt is well covered by operating cash flow (145%, greater than 20% of total debt).
  • Anika Therapeutics earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Anika Therapeutics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Anika Therapeutics has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ANIK Dividends

 What is Anika Therapeutics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Anika Therapeutics dividends.
If you bought $2,000 of Anika Therapeutics shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Anika Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Anika Therapeutics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:ANIK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:ANIK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Anika Therapeutics has not reported any payouts.
  • Unable to verify if Anika Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Anika Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Anika Therapeutics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Anika Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Anika Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Anika Therapeutics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ANIK Management

 What is the CEO of Anika Therapeutics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe Darling
COMPENSATION $2,170,187
AGE 60
TENURE AS CEO 1.2 years
CEO Bio

Mr. Joseph G. Darling, also known as Joe, has been the Chief Executive Officer and Director of Anika Therapeutics, Inc. since March 9, 2018 and serves as its President since July 2017. He served as the Chief Operating Officer and Vice President at Interventional Spine, Inc. from May 2015 to September 2016. Mr. Darling served as the Chief of Commercial Operations, Executive Vice President and President of Conmed Linvatec at CONMED Corporation until February 28, 2015. Mr. Darling served as the President at Conmed Linvatec Orthopedic Products Unit, a subsidiary of Linvatec Corporation and Consolidated Medical Equipment, Inc. since May 2008. He served as a Vice President of Corporate Commercial Operations at CONMED Corporation since July 2011. Mr. Darling served as a Vice President of Marketing at Smith & Nephew Endoscopy, Inc. He has more than 25 years' experience in medical device and pharmaceutical healthcare sales, marketing and operations management. Mr. Darling's business career spans both the pharmaceutical and medical device markets including senior management positions with Abbott Laboratories, Wyeth Pharmaceuticals and executive level positions with Baxter International as Vice President of Marketing and Health Systems, Senior Vice President and General Manager of Smith and Nephews Sports Medicine and Biologics business. He served as a Senior Vice President & General Manager at Smith & Nephew Inc., where he was a member of the executive leadership team with overall P&L responsibility for the sports medicine business unit within the Endoscopy division. Prior to this role, he served Smith & Nephew within the Endoscopy Division as a Vice President of Worldwide Marketing. He also held executive and leadership positions at Wyeth-Ayerst Pharmaceuticals. Mr. Darling served at Baxter International, Inc. in a number of increasingly senior positions over a six year period. His final position at Baxter was Vice President, Marketing II & Integrated Delivery Network Sales within the Medication Delivery Systems division. Mr. Darling began his career at Abbott Laboratories, where he spent approximately 14 years in a number of increasingly senior positions. In his final position at Abbott, Mr. Darling served as Director of Sales within the Pharmaceutical Products Division. He served as Executive Chairman of Arthrosurface, Inc. from September 2016 to July 2017. He has been a Director of Serica Technologies, Inc. since October 2009. He has served on the Boards of Directors of the American Heart Association, Jefferson (Illinois) County Chapter, the Adler Foundation and the Libertyville Little League and has also been a Habitat for Humanity Volunteer. Mr. Darling holds a Bachelor of Arts in Political Science from Syracuse University Maxwell School of Citizenship.

CEO Compensation
  • Joe's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Joe's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Anika Therapeutics management team in years:

2.5
Average Tenure
54.5
Average Age
  • The tenure for the Anika Therapeutics management team is about average.
Management Team

Joe Darling

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
60
TENURE
1.2 yrs

Sylvia Cheung

TITLE
CFO, Treasurer & Secretary
COMPENSATION
$1M
AGE
43
TENURE
6.1 yrs

Edward Ahn

TITLE
Chief Technology & Strategy Officer
COMPENSATION
$914K
AGE
46
TENURE
4.6 yrs

Tom Finnerty

TITLE
Chief Human Resources Officer
COMPENSATION
$759K
AGE
60
TENURE
1.6 yrs

Alexei Goraltchouk

TITLE
Vice President of Operations
TENURE
0.9 yrs

Charles Sherwood

TITLE
VP & Corporate Legal Counsel
TENURE
1.3 yrs

Stephen Goldy

TITLE
Vice President of U.S. Sales

Steve Garbacz

TITLE
VP of Finance & Corporate Controller
AGE
59

Steven Cyr

TITLE
Vice President of Human Resources
TENURE
5.2 yrs

Frank Luppino

TITLE
Consultant
COMPENSATION
$452K
AGE
50
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Anika Therapeutics board of directors in years:

1.2
Average Tenure
63
Average Age
  • The average tenure for the Anika Therapeutics board of directors is less than 3 years, this suggests a new board.
Board of Directors

Joseph Bower

TITLE
Chairman
COMPENSATION
$189K
AGE
79
TENURE
1.2 yrs

Joe Darling

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
60
TENURE
1.2 yrs

Raymond Land

TITLE
Independent Director
COMPENSATION
$165K
AGE
73
TENURE
13.3 yrs

Jeff Thompson

TITLE
Director
COMPENSATION
$157K
AGE
52
TENURE
8.3 yrs

Sue Vogt

TITLE
Independent Director
COMPENSATION
$160K
AGE
64
TENURE
0.6 yrs

Glenn Larsen

TITLE
Independent Director
COMPENSATION
$152K
AGE
63
TENURE
4.3 yrs

Cheryl Blanchard

TITLE
Director
COMPENSATION
$167K
AGE
54
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Anika Therapeutics insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
01. Mar 19 Buy Joseph Darling Individual 28. Feb 19 28. Feb 19 1,000 $33.20 $33,200
28. Feb 19 Sell Raymond Land Individual 26. Feb 19 26. Feb 19 -4,000 $33.06 $-132,240
X
Management checks
We assess Anika Therapeutics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Anika Therapeutics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ANIK News

Simply Wall St News

Does The Anika Therapeutics, Inc. (NASDAQ:ANIK) Share Price Fall With The Market?

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Is Anika Therapeutics, Inc.'s (NASDAQ:ANIK) ROE Of 7.1% Concerning?

To keep the lesson grounded in practicality, we'll use ROE to better understand Anika Therapeutics, Inc. … Anika Therapeutics has a ROE of 7.1%, based on the last twelve months. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Those Who Purchased Anika Therapeutics Shares A Year Ago Have A 37% Loss To Show For It

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … This proportional reduction in earnings per share isn't far from the 37% decrease in the share price. … Instead, the change in the share price seems to reduction in earnings per share, alone.

Simply Wall St -

What Does Anika Therapeutics, Inc.'s (NASDAQ:ANIK) Share Price Indicate?

led the NASDAQGS gainers with a relatively large price hike in the past couple of weeks. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … Today I will analyse the most recent data on Anika Therapeutics’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Is Anika Therapeutics, Inc.'s (NASDAQ:ANIK) P/E Ratio Really That Good?

To keep it practical, we'll show how Anika Therapeutics, Inc.'s (NASDAQ:ANIK) P/E ratio could help you assess the value on offer. … Anika Therapeutics has a price to earnings ratio of 25.67, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Anika Therapeutics, Inc. (NASDAQ:ANIK)?

(NASDAQ:ANIK), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

What Investors Should Know About Anika Therapeutics Inc's (NASDAQ:ANIK) Financial Strength

The direct benefit for Anika Therapeutics Inc (NASDAQ:ANIK), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … Does ANIK's growth rate justify its decision for financial flexibility over lower cost of capital. … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital

Simply Wall St -

What Does Anika Therapeutics Inc's (NASDAQ:ANIK) Share Price Indicate?

Anika Therapeutics Inc (NASDAQ:ANIK), which is in the medical equipment business, and is based in United States,. … A question to answer is whether Anika Therapeutics's current trading price of $36.19 reflective of the actual value of the? … Let’s take a look at Anika Therapeutics’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Is Anika Therapeutics Inc (NASDAQ:ANIK) Undervalued After Accounting For Its Future Growth?

Anika Therapeutics Inc (NASDAQ:ANIK) is considered a high-growth stock, but its last closing price of $39.94 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … See our latest analysis for Anika Therapeutics? … Investors in Anika Therapeutics have been patiently waiting for the uptick in earnings.

Simply Wall St -

How Anika Therapeutics Inc's (NASDAQ:ANIK) Earnings Growth Stacks Up Against The Industry

For long-term investors, assessing earnings trend over time and against industry benchmarks is more beneficial than examining a single earnings announcement at a point in time. … Investors may find my commentary, albeit very high-level and brief, on Anika Therapeutics Inc (NASDAQ:ANIK) useful as an attempt to give more color around how Anika Therapeutics is currently performing. … Check out our latest analysis for Anika Therapeutics?

Simply Wall St -

ANIK Company Info

Description

Anika Therapeutics, Inc., together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology. Its orthobiologics products comprise ORTHOVISC, ORTHOVISC mini, MONOVISC, and CINGAL for the treatment of osteoarthritis of the knee; HYALOFAST, a biodegradable support for human bone marrow mesenchymal stem cells used for cartilage regeneration and as an adjunct for microfracture surgery; HYALONECT, a resorbable knitted fabric mesh; HYALOSS MATRIX, HYAFF fibers used to mix blood/bone grafts to form a paste for bone regeneration; and HYALOGLIDE, an ACP gel used in tenolysis treatment. The company’s dermal products include wound care products that comprise HYALOMATRIX and HYALOFILL for the treatment of complex wounds, such as burns and ulcers, and for use in connection with the regeneration of skin; and ELEVESS, an aesthetic dermatology product. Its surgical products comprise HYALOBARRIER, a post-operative adhesion barrier for use in the abdomino-pelvic area; MEROGEL, a woven fleece nasal packing; and MEROGEL INJECTABLE, a viscous hydrogel. The company also offers ophthalmic products, including injectable HA products that are used as viscoelastic agents in ophthalmic surgical procedures, such as cataract extraction and intraocular lens implantation; and veterinary products, which include HYVISC, an injectable HA product for the treatment of joint dysfunction in horses. The company was founded in 1983 and is headquartered in Bedford, Massachusetts.

Details
Name: Anika Therapeutics, Inc.
ANIK
Exchange: NasdaqGS
Founded: 1983
$541,141,582
14,206,920
Website: http://www.anikatherapeutics.com
Address: Anika Therapeutics, Inc.
32 Wiggins Avenue,
Bedford,
Massachusetts, 01730,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ANIK Common Stock Nasdaq Global Select US USD 03. May 1993
DB AKP Common Stock Deutsche Boerse AG DE EUR 03. May 1993
Number of employees
Current staff
Staff numbers
133
Anika Therapeutics employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 23:33
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/03
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.