ANIK Similar Chart Price Prediction
The price of ANIK is predicted to go up 10.79%, based on the high correlation periods with XPEL. The similarity of these two price pattern on the periods is 97.08%.
ANIK
XPEL
Up: 10.79%Similarity: 97.08%
ANIK Revenue Forecast
ANIK EPS Forecast
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ANIK Analyst's Forecast
Michael Petusky
Barrington Research
Buy
Price Target
$37 → $25
Upside
+51.24%
Barrington analyst Michael Petusky lowered the firm's price target on Anika Therapeutics to $25 from $37 and keeps an Outperform rating on the shares after Q3 results fell short of expectations and the company "materially reduced" its previous adjusted EBITDA guidance for FY24. Weakening OA pain volumes and softer pricing in the U.S. were the primary factors in "the more pessimistic outlook," notes the analyst, who notes the firm's target is based on its FY25 adjusted EBITDA estimate plus $50M of value it adds for the company's "two potential needle-mover products," namely Cingal and Hyalofast, that have completed pivotal trials but have not yet received U.S. approval.