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What's in Store for Anika Therapeutics' (ANIK) Q2 Earnings?
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Anika Therapeutics, Inc. (ANIK - Free Report) is scheduled to report second-quarter 2019 results on July 24, after the market closes.
Anika has an excellent earnings surprise history, surpassing expectations in each of the trailing four quarters, the average being 72.00%. In the last reported quarter, the company delivered a positive surprise of 47.62%.
Shares of Anika have rallied 20.9% so far this year against the industry’s decline of 0.2%.
Let’s see how things are shaping up for this announcement.
Factors to Consider
Anika earns revenues from the sale of several drugs, which can be categorized under three major segments, namely Orthobiologics, Surgical and Dermal.
The company’s orthopedic medicine portfolio includes medicines like Orthovisc, Monovisc and Cingal (marketed only in Europe and Canada), which alleviate pain and restore joint function by replenishing depleted hyaluronic acid (HA), and Hyalofast, which is a solid HA-based scaffold to aid cartilage repair and regeneration.
Despite higher sales in the first quarter of 2019, sales of Orthovisc and Monovisc may decline in the second quarter due to pricing reductions in the U.S. viscosupplement market, which will offset the increase in revenues generated by Cingal in the ex-U.S. markets.
The Surgical franchise consists of products used in preventing surgical adhesions to treat ear, nose and throat (ENT) disorders. Sales of surgical products increased in the last reported quarter. The company expects this positive trend to continue in the second quarter on the back of higher global revenues associated with the sales of surgical anti-adhesion product and ENT sales.
Dermal segment sales demonstrated encouraging growth in the first quarter. During the fourth quarter of 2018, Anika resumed global distribution of Hyalofast, Hyalograft-C and Hyalomatrix after a voluntary, non-safety related recall in the second quarter of 2018. The company expects Dermal segment sales to increase in the upcoming quarterly results following the resumption of Hyalomatrix shipments.
Anika is currently evaluating and discussing expeditious pathway with the FDA for an approval of Cingal in the United States. We expect management to provide an update on the same during second-quarter investors’ call.
Earnings Whispers
Our proven model does not conclusively show that Anika is likely to beat estimates this earnings season. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. But that is not the case here as you will see below.
Earnings ESP: Anika has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate stands at 42 cents each. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Anika currently carries a Zacks Rank #3, which increases the predictive power of ESP. However, its 0.00% ESP makes surprise prediction difficult.
We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into an earnings announcement, especially when the company is seeing negative estimate revisions.
Here are some biotech stocks that you may want to consider as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Alexion Pharmaceuticals, Inc. has a Zacks Rank of 1 and an Earnings ESP of +3.10%. The company is scheduled to release second-quarter results on Jul 24, before the market opens. You can see the complete list of today’s Zacks #1 Rank stocks here.
Gilead Sciences, Inc. (GILD - Free Report) is scheduled to release second-quarter results on Jul 30, after the market closes. The company has an Earnings ESP of +3.69% and a Zacks Rank of 3.
Regeneron Pharmaceuticals, Inc. (REGN - Free Report) is a Zacks #3 Ranked player and has an Earnings ESP of +5.76%. The company is scheduled to release second-quarter results on Aug 6, before the market opens.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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What's in Store for Anika Therapeutics' (ANIK) Q2 Earnings?
Anika Therapeutics, Inc. (ANIK - Free Report) is scheduled to report second-quarter 2019 results on July 24, after the market closes.
Anika has an excellent earnings surprise history, surpassing expectations in each of the trailing four quarters, the average being 72.00%. In the last reported quarter, the company delivered a positive surprise of 47.62%.
Shares of Anika have rallied 20.9% so far this year against the industry’s decline of 0.2%.
Let’s see how things are shaping up for this announcement.
Factors to Consider
Anika earns revenues from the sale of several drugs, which can be categorized under three major segments, namely Orthobiologics, Surgical and Dermal.
The company’s orthopedic medicine portfolio includes medicines like Orthovisc, Monovisc and Cingal (marketed only in Europe and Canada), which alleviate pain and restore joint function by replenishing depleted hyaluronic acid (HA), and Hyalofast, which is a solid HA-based scaffold to aid cartilage repair and regeneration.
Despite higher sales in the first quarter of 2019, sales of Orthovisc and Monovisc may decline in the second quarter due to pricing reductions in the U.S. viscosupplement market, which will offset the increase in revenues generated by Cingal in the ex-U.S. markets.
The Surgical franchise consists of products used in preventing surgical adhesions to treat ear, nose and throat (ENT) disorders. Sales of surgical products increased in the last reported quarter. The company expects this positive trend to continue in the second quarter on the back of higher global revenues associated with the sales of surgical anti-adhesion product and ENT sales.
Dermal segment sales demonstrated encouraging growth in the first quarter. During the fourth quarter of 2018, Anika resumed global distribution of Hyalofast, Hyalograft-C and Hyalomatrix after a voluntary, non-safety related recall in the second quarter of 2018. The company expects Dermal segment sales to increase in the upcoming quarterly results following the resumption of Hyalomatrix shipments.
Anika is currently evaluating and discussing expeditious pathway with the FDA for an approval of Cingal in the United States. We expect management to provide an update on the same during second-quarter investors’ call.
Earnings Whispers
Our proven model does not conclusively show that Anika is likely to beat estimates this earnings season. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. But that is not the case here as you will see below.
Earnings ESP: Anika has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate and the Zacks Consensus Estimate stands at 42 cents each. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Anika currently carries a Zacks Rank #3, which increases the predictive power of ESP. However, its 0.00% ESP makes surprise prediction difficult.
We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into an earnings announcement, especially when the company is seeing negative estimate revisions.
Anika Therapeutics Inc. Price and EPS Surprise
Anika Therapeutics Inc. price-eps-surprise | Anika Therapeutics Inc. Quote
Stocks That Warrant a Look
Here are some biotech stocks that you may want to consider as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Alexion Pharmaceuticals, Inc. has a Zacks Rank of 1 and an Earnings ESP of +3.10%. The company is scheduled to release second-quarter results on Jul 24, before the market opens. You can see the complete list of today’s Zacks #1 Rank stocks here.
Gilead Sciences, Inc. (GILD - Free Report) is scheduled to release second-quarter results on Jul 30, after the market closes. The company has an Earnings ESP of +3.69% and a Zacks Rank of 3.
Regeneron Pharmaceuticals, Inc. (REGN - Free Report) is a Zacks #3 Ranked player and has an Earnings ESP of +5.76%. The company is scheduled to release second-quarter results on Aug 6, before the market opens.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>