Anika Therapeutics (NASDAQ:ANIK) Receives Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Anika Therapeutics (NASDAQ:ANIK - Free Report) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $37.00 target price on the biotechnology company's stock.

Anika Therapeutics Stock Performance

Shares of NASDAQ ANIK traded up $0.26 during midday trading on Tuesday, reaching $24.70. The stock had a trading volume of 49,197 shares, compared to its average volume of 62,469. The firm has a market cap of $360.30 million, a price-to-earnings ratio of -4.70 and a beta of 0.83. Anika Therapeutics has a twelve month low of $18.08 and a twelve month high of $29.11. The company's 50 day moving average price is $25.10 and its 200 day moving average price is $25.80.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Eastern Bank acquired a new position in shares of Anika Therapeutics during the 3rd quarter valued at $28,000. Lazard Asset Management LLC acquired a new position in shares of Anika Therapeutics during the 1st quarter valued at $180,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Anika Therapeutics during the 1st quarter valued at $198,000. SG Americas Securities LLC lifted its position 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 valued at $219,000 after acquiring an additional 627 shares during the period. Finally, BNP Paribas Financial Markets lifted its position 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 acquiring an additional 3,217 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.

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.