Anika Therapeutics
Makes HA-based orthopedic products for OA pain management and regenerative procedures.
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Profile
Sells Monovisc, Orthovisc, and Cingal for OA pain management, plus Integrity, Hyalofast, and Tactoset for regenerative orthopedics. Revenue is split between OEM relationships and commercial channels, with the United States as the largest market and J&J MedTech central to U.S. Monovisc and Orthovisc.
Develops and manufactures hyaluronic-acid orthopedic products centered on OA pain management and regenerative solutions. Current OA products include Monovisc, Orthovisc, and Cingal; regenerative products include Integrity, Hyalofast, and Tactoset.
Operates through one consolidated segment with OEM and commercial channels. Sales are concentrated in the United States, with additional business in Europe and other international markets.
The business has refocused after selling the Arthrosurface joint-preservation and Parcus sports-medicine assets, returning attention to HA-related products. J&J MedTech is the exclusive U.S. marketer for Monovisc and Orthovisc, Cingal is sold outside the United States, and Hyalofast remains a U.S. pipeline product under FDA review.
Company facts
Key statistics
Year to date +127% · Average volume (30d) 117.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Jul 30, 2026 | Barrington | Target | $21 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.03 | $0.42 | +1,300.0% | $29.2M | $32.6M | +11.6% | +11.75% |
| Apr 29, 2026Q1 FY26 | −$0.07 | $0.27 | +485.7% | $28.1M | $29.6M | +5.2% | +0.48% |
| Feb 26, 2026Q4 FY25 | −$0.13 | $0.31 | +348.0% | $28.9M | $30.6M | +6.0% | +12.28% |
| Nov 5, 2025Q3 FY25 | $0.02 | $0.04 | +100.0% | $27.8M | $27.8M | +0.1% | −1.02% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $26.2M | $28.2M | $27.8M | $30.6M | $29.6M | $32.6M | |
| Gross profit | $14.7M | $14.4M | $15.6M | $19.2M | $19.0M | $21.2M | |
| Operating income | −$4.3M | −$4.2M | −$3.2M | $646.0K | −$5.5M | $3.0M | |
| Net income | −$4.9M | −$4.0M | −$2.3M | $292.0K | −$5.1M | $3.3M | |
| Diluted EPS | −$0.34 | −$0.28 | −$0.16 | $0.02 | −$0.37 | $0.24 | |
| Gross margin | 56.1% | 50.9% | 56.0% | 62.6% | 64.2% | 65.1% | |
| Operating margin | -16.4% | -14.8% | -11.6% | 2.1% | -18.5% | 9.1% |
Fiscal years (4-quarter sums)FY21 $147.8M · FY22 $156.2M · FY23 $166.7M · FY24 $108.7M · FY25 $112.8M
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $38.4M · Total debt $23.3M · Total assets $183.5M · Shareholders' equity $137.3M
Dividends
No dividends on record.
Ownership
Shares outstanding 13.38M · Float 12.54M · 93.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 1.45M | 10.83% | 13F | Aug 7, 2026 |
| Caligan Partners LP | 1.44M | 10.72% | 13F | Aug 14, 2026 |
| Morgan Stanley | 614.3K | 4.59% | 13F | Aug 13, 2026 |
| Acadian Asset Management LLC | 606.5K | 4.53% | 13F | Aug 13, 2026 |
| Vanguard Capital Management LLC | 572.1K | 4.27% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 3, 2026 | Gary P. Fischetti | director | +1,000 | $20.75 |
| Aug 4, 2026 | Gary P. Fischetti | director | +1,000 | $20.32 |
| May 1, 2026 | John B. Iii Henneman | director | +5,000 | $14.66 |
| Apr 30, 2026 | Stephen D. Griffin | director, officer: President and CEO | +12,200 | $12.29 |
Peers
- Zimmer Biomet
Broad musculoskeletal peer with direct HA knee OA products
- Bioventus
Direct knee OA injection rival through DUROLANE and GELSYN-3
- Sanofi (ADR)
Synvisc franchise competes in knee OA viscosupplementation
- Smith & Nephew (ADR)
Shoulder repair and cartilage-repair peer via REGENETEN and CARTIHEAL
- Pacira BioSciences
Non-opioid knee OA pain rival through ZILRETTA and PCRX-201
- CONMED
Orthopedic soft-tissue repair rival centered on BioBrace
- Stryker
Large sports-medicine peer in rotator cuff repair systems
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Anika Therapeutics | $21.10 | −0.50% | $282.4M | — | 34.5 | 2.3 | +15.6% |
| Zimmer Biomet | $100.91 | −0.00% | $19.52B | 24.6 | 11.5 | 2.3 | +4.8% |
| Bioventus | $13.84 | −0.07% | $937.6M | 18.0 | 17.1 | 1.6 | +3.8% |
| Sanofi (ADR) | $44.83 | +0.02% | $107.62B | 78.9 | — | 1.9 | +11.2% |
| Smith & Nephew (ADR) | $28.72 | −0.93% | $12.17B | 19.2 | — | 1.9 | +3.7% |
| Pacira BioSciences | $25.76 | 0.00% | $1.01B | 73.3 | 8.3 | 1.4 | +6.2% |
| CONMED | $49.53 | −1.06% | $1.50B | 27.0 | 11.2 | 1.1 | +0.3% |
| Stryker | $334.18 | +1.06% | $126.77B | 34.3 | 20.6 | 4.9 | +9.4% |
| Median | 27.0 | 11.5 | 1.9 | +4.8% |