Anika Therapeutics Inc

ANIK is in a Stage 3 distribution phase, granting bearish medium-term permission. Short-term price is rejecting around the 9/21 EMAs and 50-day SMA, reflecting diminishing demand and structure failure. The preferred execution is selling into rallies near these resistance zones, aligning with the dominant downtrend while respecting potential short-term oversold bounces.

• ↑2026 EPS now projected at $1.05, reversing a prior $0.12 loss.
• ↑Q2 revenue $32.6M (+16% YoY) with gross margin at 65% vs 51%.
• ↓Balance sheet quality is suboptimal, with elevated leverage and liquidity risk.