Anika Therapeutics Inc reports results for the quarter ended September 30 - Earnings Summary

Anika Therapeutics Inc reported a quarterly adjusted loss of 16 cents per share for the quarter ended September 30, an improvement from a loss of 25 cents per share in the same quarter last year. Revenue fell 28.2% to $27.82 million, slightly above analyst expectations. The company reported a total loss of $2.33 million. Despite a 2.4% rise in shares this quarter, they have lost 41.5% year-to-date. Analysts maintain a "strong buy" rating with a median 12-month price target of $15.50, 37.9% above the last closing price of $9.63.