Anika Therapeutics

ANIK · NASDAQ

$20.44+$0.22 (+1.09%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $20.22

ANIK analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 4 analysts

Average $23.46 (+14.8% upside)

Low: $23.23
Now: $20.44
High: $24.15

Upgrades and downgrades

The latest rating actions, newest first

ANIK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
B. Riley Securities	Sep 18, 2026	Initiates	Buy	$21.00 → $23.00	30%
B. Riley Securities	Jul 30, 2026	Maintains	Buy	$18.00 → $21.00	53%
Barrington Research	Feb 27, 2026	Maintains	Outperform	$16.00 → $17.00	44%
Barrington Research	Jan 9, 2026	Maintains	Outperform	$16.00	44%
Barrington Research	Nov 6, 2025	Maintains	Outperform	$15.00 → $16.00	44%

The case for and against

Updated Apr 28, 2026

Bull case

Anika Therapeutics is a leading company in the early intervention orthopedics space with a diverse product portfolio and strong partnerships. The company's recent financial results beat expectations, with revenue coming in higher than anticipated and a significant increase in share repurchases. The upcoming transition in leadership to current CFO and COO, Stephen Griffin, is expected to bring continued operational improvements and a positive impact on investor confidence. Analysts also point to the potential success of the final PMA module for Hyalofast, a product for cartilage repair that recently filed its final FDA submission. With a strong balance sheet and expected revenue growth in the commercial channel, Anika is well-positioned for long-term success and we maintain an OUTPERFORM rating with a price target of $17.

Bear case

Anika Therapeutics is facing potential delays in the FDA approval process for their product Cingal, which could hinder revenue growth for the next few years. Additionally, the company's focus on internal investment and share repurchases may limit their ability to make necessary investments for future growth. Finally, their current valuation is modest and does not account for potential risks in the approval process, making their risk/reward profile unappealing.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.