Anika Therapeutics Inc (NASDAQ:ANIK) Receives Average Rating of “Hold” from Brokerages

Shares of Anika Therapeutics Inc (NASDAQ:ANIK) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $51.67.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, June 22nd. ValuEngine upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 4th. Barrington Research downgraded shares of Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Finally, BidaskClub upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, April 22nd.

A number of institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in Anika Therapeutics by 0.3% during the first quarter. State Street Corp now owns 863,045 shares of the biotechnology company’s stock valued at $24,951,000 after purchasing an additional 2,538 shares during the period. Renaissance Technologies LLC raised its position in Anika Therapeutics by 21.2% in the fourth quarter. Renaissance Technologies LLC now owns 585,129 shares of the biotechnology company’s stock worth $30,339,000 after acquiring an additional 102,207 shares during the period. Boston Trust Walden Corp raised its position in Anika Therapeutics by 76.4% in the first quarter. Boston Trust Walden Corp now owns 387,747 shares of the biotechnology company’s stock worth $11,210,000 after acquiring an additional 167,929 shares during the period. Goldman Sachs Group Inc. raised its position in Anika Therapeutics by 81.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 309,876 shares of the biotechnology company’s stock worth $16,067,000 after acquiring an additional 138,695 shares during the period. Finally, Geode Capital Management LLC raised its position in Anika Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 222,854 shares of the biotechnology company’s stock worth $11,554,000 after acquiring an additional 2,332 shares during the period. Institutional investors own 91.04% of the company’s stock.

Shares of NASDAQ ANIK traded down $1.29 during midday trading on Friday, hitting $33.01. The stock had a trading volume of 191,271 shares, compared to its average volume of 145,233. The business’s 50 day moving average is $33.43 and its 200-day moving average is $38.97. The company has a market cap of $486.99 million, a P/E ratio of 18.04, a PEG ratio of 6.35 and a beta of 1.16. Anika Therapeutics has a 52 week low of $22.01 and a 52 week high of $75.71. The company has a quick ratio of 4.81, a current ratio of 6.15 and a debt-to-equity ratio of 0.07.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.16). The firm had revenue of $35.40 million during the quarter, compared to the consensus estimate of $36.06 million. Anika Therapeutics had a return on equity of 11.27% and a net margin of 20.87%. As a group, analysts expect that Anika Therapeutics will post 0.54 EPS for the current fiscal year.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.

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