ANIK
Anika Therapeutics, Inc.
ANIK has the edge over NVO overall, supported by stronger fundamentals and stronger modeled upside.
NVO
Novo Nordisk A/S
NVO has lower modeled downside risk, despite its lower overall score.
ANIK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Stable | |
| Strong |
ANIK's revenue and balance sheet are currently strong, and its cash flow is stable, but its profitability is under pressure.
NVO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
NVO's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
ANIK PE Valuation
ANIK has no meaningful PE right now: it lost money over the past year.
NVO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 10x | $40.65 | — |
| Cheap | 14x | $53.56 | +32% |
| Fair | 27x | $103 | +154% |
| Expensive | 39x | $152 | +273% |
Historical ranges are pointers, not guarantees.
NVO's PE is 10x, but its earnings don't support one, so it isn't a reliable read right now.
ANIK Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
ANIK has the edge over NVO on the outlook, with more favorable earnings and profitability expectations.
NVO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect NVO's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
ANIK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.91 | — |
| Q3 2026 | -$0.13 | +$2.15 |
| Q2 2026 | -$0.27 | +$3.88 |
| Q1 2026 | -$0.79 | +$3.09 |
| Q4 2025 | -$0.76 | +$3.09 |
| Q3 2025 | -$2.28 | +$4.36 |
| Q2 2025 | -$4.15 | +$0.91 |
| Q1 2025 | -$3.88 | +$1.36 |
| Q4 2024 | -$3.85 | +$1.79 |
ANIK is still losing money, but far less than before: $0.13 per share over the past year, against $6.64 at its worst in late 2024.
NVO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.89 | +4.9% |
| Q1 2026 | $4.07 | +17% |
| Q4 2025 | $3.42 | +1.8% |
| Q3 2025 | $3.47 | +10% |
| Q2 2025 | $3.71 | +24% |
| Q1 2025 | $3.49 | +18% |
| Q4 2024 | $3.36 | +21% |
| Q3 2024 | $3.15 | +27% |
NVO has the edge over ANIK on earnings quality, reporting a profit while its opponent remains loss making.
ANIK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $30.6M | +10% |
| Q2 2026 | $32.6M | +16% |
| Q1 2026 | $29.6M | +13% |
| Q3 2025 | $27.8M | -28% |
| Q2 2025 | $28.2M | -33% |
| Q1 2025 | $26.2M | -35% |
| Q3 2024 | $38.8M | -6.5% |
| Q2 2024 | $41.9M | -5.4% |
ANIK's revenue is recovering but still below its 2023 peak: $31M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -2.3% | -35 points |
| Q2 2026 | 9.1% | +24 points |
| Q1 2026 | -19% | -2.2 points |
| Q4 2025 | 2.1% | N/A |
| Q3 2025 | 32% | +105 points |
| Q2 2025 | -15% | -15 points |
| Q1 2025 | -16% | -3.9 points |
| Q3 2024 | -72% | -54 points |
ANIK's operating margin was −2.3% last quarter, down 35 points from the same quarter a year ago.
NVO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $11.7B | +2.1% |
| Q1 2026 | $14.4B | +24% |
| Q4 2025 | $11.8B | -7.6% |
| Q3 2025 | $11.1B | +5.1% |
| Q2 2025 | $11.4B | +13% |
| Q1 2025 | $11.6B | +19% |
| Q4 2024 | $12.7B | +30% |
| Q3 2024 | $10.6B | +21% |
NVO has the edge over ANIK on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 34% | -9 points |
| Q1 2026 | 62% | +12 points |
| Q4 2025 | 40% | -2.8 points |
| Q3 2025 | 32% | -16 points |
| Q2 2025 | 44% | +5.4 points |
| Q1 2025 | 50% | +1 points |
| Q4 2024 | 43% | +2.2 points |
| Q3 2024 | 47% | +1.6 points |
NVO has the edge over ANIK on profitability, with a higher operating margin.
ANIK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.7M | +35% |
| Q2 2026 | -$2.1M | -$477K |
| Q1 2026 | -$6.3M | -$3.3M |
| Q4 2025 | $4M | +1351% |
| Q3 2025 | $5M | +31% |
| Q2 2025 | -$1.7M | +$2.8M |
| Q1 2025 | -$3M | -$1M |
| Q4 2024 | $275K | -85% |
ANIK still generates free cash flow, though less than at its 2019 peak: $2M over the past year.
NVO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $6.3B | +73% |
| Q1 2026 | $1.8B | +20% |
| Q4 2025 | -$5.4B | -$4.7B |
| Q3 2025 | $4.6B | -2.1% |
| Q2 2025 | $3.6B | -34% |
| Q1 2025 | $1.5B | +89% |
| Q4 2024 | -$632.6M | +$390.5M |
| Q3 2024 | $4.7B | +3.3% |
NVO has the edge over ANIK on cash flow, with more consistent year-over-year improvement.
ANIK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.4% | -329K shares |
| 1 year | -7.2% | -1M shares |
| 3 years | -8.5% | -1.2M shares |
| 5 years | -8.6% | -1.3M shares |
| Available history | -8.4% | -1.2M shares |
ANIK has the edge over NVO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $853,000 |
| Q1 2026 | $8.7M |
| Q4 2025 | $5.5M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $4M |
| Q4 2024 | $5.6M |
ANIK spent $15M buying back its own shares over the past year, up 58% from the year before.
NVO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.3% | -12.9M shares |
| 1 year | -0.2% | -11M shares |
| 3 years | -1.5% | -66.8M shares |
| 5 years | -3.8% | -177M shares |
| Available history | -6.5% | -311M shares |
NVO has 4.4B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $520M |
| Q1 2026 | $356.7M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $206.3M |
| Q4 2024 | $1.1B |
| Q3 2024 | $357.4M |
NVO spent $877M buying back its own shares over the past year, down 48% from the year before.
ANIK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -14.7x | Net Cash |
| Q2 2026 | -3.0x | Net Cash |
| Q1 2026 | -7.6x | Net Cash |
| Q4 2025 | -8.8x | Net Cash |
| Q3 2025 | -1.9x | Net Cash |
| Q1 2022 | -36.9x | Net Cash |
| Q4 2021 | -10.4x | Net Cash |
| Q3 2021 | -45.8x | Net Cash |
ANIK has the edge over NVO on leverage, with a lower net debt burden relative to earnings.
NVO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
| Q3 2024 | -0.0x | Very low |
NVO's net debt is less than a year of its operating earnings (EBITDA).
ANIK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.5 | Neutral |
| Stochastic | 29.4 | Neutral |
ANIK's weekly RSI is 36 (neutral) and its Stochastic is 29 (neutral).
NVO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 27.0 | Neutral |
NVO's weekly RSI is 43 (neutral) and its Stochastic is 27 (neutral).
ANIK PE vs Healthcare Sector
| Metric | ANIK | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
ANIK has no meaningful PE right now: it lost money over the past year.
NVO PE vs Healthcare Sector
| Metric | NVO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 26x | 60% below |
| PE % | 6 | 29 | 23 pts below |
NVO is trading at 10x earnings, a 60% discount to the Healthcare sector's median of 26x, though its earnings don't support one.
ANIK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.7 | 26% below |
| 20 week MA | $18.9 | 27% below |
| 50 week MA | $15.2 | 9% below |
| 100 week MA | $13.8 | 0.1% above |
| 200 week MA | $19.0 | 27% below |
ANIK's trend is mixed: it's above one of its five weekly moving averages, and 27% below its 200-week average.
NVO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $39.2 | 3.7% above |
| 20 week MA | $43.9 | 7.4% below |
| 50 week MA | $45.3 | 10% below |
| 100 week MA | $56.3 | 28% below |
| 200 week MA | $80.7 | 50% below |
NVO has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 50% below its 200-week average.
ANIK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $52.8 | $43.2 | -18% |
| 2021 | $43.2 | $38.0 | -12% |
| 2022 | $38.0 | $27.9 | -27% |
| 2023 | $27.9 | $22.7 | -19% |
| 2024 | $22.7 | $16.2 | -28% |
| 2025 | $16.2 | $9.55 | -41% |
| 2026 YTD | $9.55 | $13.8 | +45% |
ANIK has the edge over NVO on returns for 2026, with the stronger performance.
NVO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.1 | $34.7 | +19% |
| 2021 | $34.7 | $54.2 | +56% |
| 2022 | $54.2 | $67.0 | +24% |
| 2023 | $67.0 | $103.5 | +54% |
| 2024 | $103.5 | $87.4 | -16% |
| 2025 | $87.4 | $52.4 | -40% |
| 2026 YTD | $52.4 | $40.7 | -22% |
NVO has finished higher in four of the last six years, two of them by more than 50%. It's down 22% so far in 2026.