Anika Therapeutics up 29% after guidance boost

Thinly traded Anika Therapeutics (ANIK +29.1%) is up on almost 50% higher volume, albeit on turnover of only 297K shares, after posting better-than-expected Q3 results after the close yesterday that included bullish guidance for the year. Highlights:

Revenue: $29.7M (+11%), led by sales increases for Monovisc (+15%) and Cingal (+35%).

Operating expenses decreased 3.3% to $17.6M.

Net income up 21% to $9.2M, EPS up 21% to $0.64, non-GAAP EBITDA up 32% to $14.9M.

2019 guidance: Revenue growth: 6 – 7% from 1 – 4%; non-GAAP EBITDA: mid-to-high $40M range from high $30M – low $40M range; net income: mid-to-high $20M range from mid-$20M range.

https://seekingalpha.com/news/3509735-anika-therapeutics-29-percent-guidance-boost