Long Position on ANIK @ $46.50 on 5/9/2014 (Momentum)

Anika Therapeutics (ANIK) develops, manufactures, and commercializes therapeutic products for tissue protection, healing, and repair in the United States, Europe, and internationally.

The company’s products are based on hyaluronic acid (HA), a naturally occurring biocompatible polymer found in the body. Its orthobiologics products comprise ORTHOVISC, ORTHOVISC mini, and MONOVISC for the treatment of osteoarthritis of the knee and joints; Hyalofast, a biodegradable support for human bone marrow mesenchymal stem cells that is used in connection with soft tissue regeneration; Hyalonect, a woven gauze used as a graft wrap; Hyaloss used to mix blood/bone grafts to form a paste for bone regeneration; and Hyaloglide, an ACP gel used in tenolysis treatment.

The company’s dermal products include wound care products that comprise Hyalomatrix and Hyalofill, for treatment of complex wounds, such as burns and ulcers; Hyalograft 3D and Laserskin scaffolds for use in connection with the regeneration of skin; and ELEVESS, an aesthetic dermatology product. Its surgical products comprise Hyalobarrier, a post-operative adhesion barrier for use in the abdomino-pelvic area; INCERT, a HA product for the prevention of spinal post-surgical adhesions; Merogel, a woven fleece nasal packin; and Merogel Injectable, a viscous hydrogel.

The company’s ophthalmic products include AMVISC, AMVISC Plus, STAARVISC-II, Optivisc, AnikaVisc, and AnikaVisc Plus that are injectable HA products used as viscoelastic agents in ophthalmic surgical procedures, including cataract extraction and intraocular lens implantation; and veterinary product comprise HYVISC, an injectable HA product used for the treatment of joint dysfunction in horses. Anika Therapeutics, Inc. markets its products through a network of distributors.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Week Trading Range: $13.36 - $52.49

Entry Point: $46.50

Stop Loss: $44.15

Target Price: $51.15 

Updates

6/9/2014 10:24:07 AM

We are taking profits on ANIK after it failed to reach our 10% gain in 30 days or less. Closed at $50.75

Position closed on 6/9/2014 at price of $50.75 with a 9.14% gain in 31 days.

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