Anika Therapeutics (NASDAQ:ANIK - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Thursday.
Separately, Barrington Research decreased their target price on Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday.
Get Our Latest Stock Report on ANIK
Anika Therapeutics Price Performance
ANIK stock traded up $0.20 during midday trading on Thursday, reaching $16.11. 65,782 shares of the company's stock traded hands, compared to its average volume of 67,958. Anika Therapeutics has a fifty-two week low of $14.95 and a fifty-two week high of $29.12. The business has a 50-day moving average price of $16.90 and a two-hundred day moving average price of $19.40. The company has a market capitalization of $235.95 million, a P/E ratio of -2.42 and a beta of 0.95.
Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last issued its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.13). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. The business had revenue of $30.60 million during the quarter, compared to analysts' expectations of $29.00 million. As a group, research analysts forecast that Anika Therapeutics will post -0.84 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Connors Investor Services Inc. lifted its holdings in Anika Therapeutics by 8.0% in the 4th quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company's stock worth $190,000 after buying an additional 861 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Anika Therapeutics by 9.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 11,700 shares of the biotechnology company's stock worth $193,000 after acquiring an additional 980 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Anika Therapeutics by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company's stock worth $655,000 after acquiring an additional 1,407 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Anika Therapeutics by 11.3% in the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company's stock valued at $387,000 after purchasing an additional 1,615 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Anika Therapeutics during the 4th quarter valued at approximately $27,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.
Anika Therapeutics Company Profile
(
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Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.
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