Is Anika Therapeutics, Inc. overvalued or undervalued?

As of 5 May 2022, Anika Therapeutics, Inc. has moved from a fair to a risky valuation grade. The company is currently considered overvalued given its negative performance metrics and ratios. The P/E ratio is not applicable due to the company being loss-making, while the Price to Book Value stands at 1.10, and the EV to Sales ratio is at 0.81. Additionally, the ROCE is notably low at -30.70%, and the ROE is also negative at -22.47%.
In comparison to its peers, Anika Therapeutics has a significantly negative EV to EBITDA of -4.95, while CareDx, Inc. is categorized as very attractive with an EV to EBITDA of -71.79, indicating a stark contrast in valuation. Other peers like AngioDynamics, Inc. also reflect a risky valuation with an EV to EBITDA of 373.39. Given the company's poor stock performance, with a year-to-date decline of 33.66% compared to the S&P 500's gain of 2.44%, it reinforces the notion that Anika Therapeutics is overvalued in the current market environment.