Call of the Week: Anika Therapeutics

Robert Maltbie |

 Anika Therapeutics (ANIK) is a leader in tissue protection products for human joints, and the company is gaining market share. It has a new product in the FDA's approval process and is already selling in Europe.

Management is lowering costs with manufacturing consolidation, and we believe that they have a number of exciting product development programs. We've initiated coverage on Anika with a BUY rating.

Here are some highlights of the company:

  • Anika has developed innovative solutions for osteoarthritis with its Orthovisc and Monovisc products.
  • We expect demand for osteoarthritis treatments to grow as the baby boom generation ages and desires to remain active.
  • The main products are the only non-avian hyaluronic acid based products approved for injection into the joint. This enables those patients allergic to eggs or poultry to receive appropriate treatment for osteoarthritis.
  • Manufacturing consolidation is lowering the company's cost structure.
  • Other hyaluronic acid based products address skin grafts, advanced wound care and surgical issues. A new product for articular cartilage generation is entering clinical trials.
  • We forecast earnings growth of 14.0% in 2011 and 16.8% in 2013. We note that core earnings growth is higher. Our 12 - 18 month price target is $18.50.
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Singular Research

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
ANIK Anika Therapeutics Inc. 43.99 0.34 0.78 57,407
STZ.B Constellation Brands Inc. 171.00 -4.50 -2.56 788


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