Anika Therapeutics (NASDAQ:ANIK) Given New $25.00 Price Target at Barrington Research

Anika Therapeutics (NASDAQ:ANIK - Free Report) had its price objective decreased by Barrington Research from $37.00 to $25.00 in a research note released on Friday morning, Marketbeat Ratings reports. Barrington Research currently has an outperform rating on the biotechnology company's stock.

Anika Therapeutics Stock Down 3.4 %

Shares of NASDAQ:ANIK traded down $0.58 during midday trading on Friday, hitting $16.53. 280,070 shares of the stock traded hands, compared to its average volume of 64,916. The stock has a market capitalization of $244.64 million, a PE ratio of -3.30 and a beta of 0.83. Anika Therapeutics has a one year low of $16.00 and a one year high of $29.11. The business's 50 day moving average is $24.80 and its two-hundred day moving average is $25.70.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.24). Anika Therapeutics had a positive return on equity of 0.94% and a negative net margin of 44.45%. The business had revenue of $41.92 million during the quarter, compared to the consensus estimate of $39.90 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. As a group, sell-side analysts forecast that Anika Therapeutics will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Anika Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in shares of Anika Therapeutics by 7.8% during the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company's stock worth $219,000 after acquiring an additional 627 shares during the period. Eastern Bank purchased a new stake in Anika Therapeutics in the third quarter worth $28,000. Massachusetts Financial Services Co. MA raised its holdings in Anika Therapeutics by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 47,691 shares of the biotechnology company's stock worth $1,208,000 after purchasing an additional 1,601 shares in the last quarter. American Century Companies Inc. lifted its position in Anika Therapeutics by 11.8% during the second quarter. American Century Companies Inc. now owns 23,892 shares of the biotechnology company's stock valued at $605,000 after buying an additional 2,518 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Anika Therapeutics by 16.9% during the 1st quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company's stock valued at $565,000 after buying an additional 3,217 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

About Anika Therapeutics

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.