Anika Therapeutics (NASDAQ:ANIK) Now Covered by Analysts at B. Riley

B. Riley assumed coverage on shares of Anika Therapeutics (NASDAQ:ANIK - Free Report) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $21.00 target price on the biotechnology company's stock.

Other analysts have also recently issued reports about the company. StockNews.com upgraded Anika Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Barrington Research reduced their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th.

Anika Therapeutics Price Performance

ANIK stock traded down $0.05 during trading on Thursday, reaching $13.98. 23,093 shares of the company were exchanged, compared to its average volume of 69,244. Anika Therapeutics has a twelve month low of $12.83 and a twelve month high of $29.12. The company has a market capitalization of $198.19 million, a price-to-earnings ratio of -2.10 and a beta of 0.82. The company has a 50-day moving average of $15.72 and a two-hundred day moving average of $17.47.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last announced its quarterly 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 firm had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.00 million. On average, analysts forecast that Anika Therapeutics will post -0.84 EPS for the current year.

Hedge Funds Weigh In On Anika Therapeutics

Hedge funds have recently made changes to their positions in the stock. Alta Fundamental Advisers LLC raised its holdings in Anika Therapeutics by 136.6% during the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company's stock worth $11,529,000 after purchasing an additional 404,350 shares during the last quarter. Boothbay Fund Management LLC lifted its holdings in Anika Therapeutics by 5.1% in the fourth quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company's stock valued at $8,716,000 after buying an additional 25,665 shares during the period. Capital Management Corp VA lifted its holdings in Anika Therapeutics by 12.1% in the fourth quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company's stock valued at $5,358,000 after buying an additional 35,195 shares during the period. Stonepine Capital Management LLC boosted its position in Anika Therapeutics by 25.8% during the fourth quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company's stock valued at $3,921,000 after acquiring an additional 48,914 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Anika Therapeutics in the 4th quarter worth about $1,958,000. 91.53% of the stock is currently owned by institutional investors.

Anika Therapeutics Company Profile

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.