Anika Therapeutics Inc. Common Stock (ANIK)

FairStock Score: 66/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable economics and honest profits. Anika is a small orthopedics company, with 235 employees, selling joint-pain products such as Monovisc, Orthovisc, and Cingal. In fiscal Q2 2026, the quarter ended 2026-06-30, it reported revenue of $32.6 million, net income of $3.3 million, and diluted EPS of $0.24. That was a sharp improvement from fiscal Q1 2026, the quarter ended 2026-03-31, when revenue was $29.6 million and net loss was $5.1 million. The annual record is still that of a loss-maker: FY2025 revenue was $112.8 million with a net loss of $10.9 million; FY2024 revenue was $119.9 million with a net loss of $56.4 million; FY2023 revenue was $120.8 million with a net loss of $82.7 million. Losses are narrowing, but the company has not proven it can earn consistently. FairStock's calculations using the 2026-10-13 close of $20.53 show a P/B of 2.00, ROE of negative 2.19%, ROCE of negative 0.87%, FCF yield of 0.2%, and EV/EBITDA of 510.92. Debt is modest with debt-to-equity of 0.18, and the Altman Z-score of 4.75 suggests reasonable solvency. The Piotroski F-score of 7/9 also hints at improvement. Yet paying twice book for negligible free cash flow and tiny profits offers no margin of safety. The $274.8 million market cap is not demanding if the latest profit is durable, but one quarter is not evidence. I would need more proof before treating this as a value stock.

In plain English: Anika Therapeutics makes treatments for joint pain, especially osteoarthritis. The business has been losing money in most years, though the latest filed quarter showed a small profit and the yearly losses are shrinking. At the recent share price, the stock looks expensive compared with its tiny profits and cash generation.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer