Why Anika Therapeutics Stock Crushed It Today

Shares of Anika Therapeutics (NASDAQ: ANIK) were soaring 27.8% higher as of 3:07 p.m. EDT on Thursday. The biotech, which focuses primarily on pain management, tissue regeneration, and wound care, announced positive second-quarter results after the market closed on Wednesday.

Anika's revenue and earnings actually declined from the prior-year period. However, the company handily beat Wall Street analyst estimates on both the top and bottom lines. 

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