Anika Therapeutics (NASDAQ:ANIK) Upgraded at StockNews.com

StockNews.com upgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a buy rating in a report issued on Thursday.

Separately, Barrington Research cut their price objective on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday.

Anika Therapeutics Price Performance

Shares of Anika Therapeutics stock opened at $15.91 on Thursday. The company has a 50-day moving average of $16.90 and a 200 day moving average of $19.51. The firm has a market cap of $233.02 million, a price-to-earnings ratio of -2.39 and a beta of 0.95. Anika Therapeutics has a 1 year low of $14.95 and a 1 year high of $29.11.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.00 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. On average, equities analysts anticipate that Anika Therapeutics will post -0.84 EPS for the current year.

Institutional Trading of Anika Therapeutics

Several institutional investors have recently bought and sold shares of ANIK. Atria Investments Inc purchased a new stake in Anika Therapeutics during the 3rd quarter valued at about $218,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of Anika Therapeutics during the 3rd quarter valued at about $238,000. Quest Partners LLC boosted its holdings in shares of Anika Therapeutics by 115.8% during the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 3,705 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Anika Therapeutics by 1.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 108,799 shares of the biotechnology company’s stock valued at $2,687,000 after acquiring an additional 1,794 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Anika Therapeutics by 25.3% during the 3rd quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock valued at $611,000 after acquiring an additional 4,996 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other 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.