Notable News to Focus: Anika Therapeutics (NASDAQ:ANIK)

Anika Therapeutics (NASDAQ:ANIK) stock observed trading -42.03% off 52-week high price. On the other end, the stock has been noted 51.29% away from low price over the last 52-weeks. The stock disclosed a move of -18.90% away from 50 day moving average and -10.94% away from 200 day moving average. Moving closer, we can see that shares have been trading -12.47% off 20-day moving average. It has market cap of $635.09M.

On Jan. 24, 2020, Anika Therapeutics (NASDAQ:ANIK) a global, integrated joint preservation and regenerative therapies company with products leveraging its proprietary hyaluronic acid (HA) technology platform, disclosed it has closed its acquisition of Parcus Medical, a leading, privately held sports medicine company.

Under the previously disclosed terms of the agreement, Anika acquired all outstanding membership interests of Parcus Medical in exchange for an upfront payment of approximately $35 million in cash from the company’s existing balance sheet, subject to customary closing adjustments. Parcus Medical unitholders will be eligible to receive an additional $60 million contingent upon the achievement of certain commercial milestones.

I want to congratulate our team on closing the Parcus Medical transaction and officially welcome the Parcus Medical team to the Anika family, said Joseph Darling, President and Chief Executive Officer of Anika Therapeutics. This acquisition immediately adds a diverse base of high-growth revenue and will help us achieve the objectives we set forth in our five-year strategic plan. We can now turn our attention to executing our integration plan and continuing to transform Anika into a leading global sports and regenerative medicine company.

Parcus Medical has a diverse product family that helps facilitate surgical procedures on the shoulder, knee, hip and distal extremities. The acquisition significantly expands Anika’s offerings into the fast-growing ambulatory surgical center market. The Parcus Medical executive team, led by President Mark Brunsvold, will join Anika and continue to lead the Parcus Medical business.

The USA based company Anika Therapeutics moved with change of -4.52% to $43.89 with the total traded volume of 206192 shares in recent session versus to an average volume of 188.13K. The stock was observed in the 5 days activity at -6.84%. The one month performance of stock was -16.06%. ANIK’s shares are at -20.99% for the quarter and driving a 20.41% return over the course of the past year and is now at -15.35% since this point in 2018.  Right now the stock beta is 0.93. The average volatility for the week and month was at 4.12% and 3.57% respectively. There are 14.47M shares outstanding and 13.72M shares are floated in market.

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