Anika Therapeutics falls on lower-than-expected sales forecast

Anika Therapeutics

07/03/2023 15:34

** Anika Therapeutics Inc  ANIK.O  shares fall 11.6% to
$25.5
    ** ANIK will log its worst day in nearly one year, if losses
hold
    ** Company expects 2023 revenue between $158 million and
$163 million, lower than analysts' estimate of $168.4 mln -
Refinitiv IBES data  urn:newsml:reuters.com:*:nGNX39tLZ1
    ** Posts Q4 sales of $39.6 mln compared with estimates of
$37.7 mln, and Q4 adjusted loss of 21 cents per share vs loss
estimate of 24 cents a share 
    ** Brokerage firm Barrington Research cuts rating to "market
perform" from "outperform"
    ** ANIK lost ~17% last year 

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))