Anika Therapeutics Inc (NASDAQ:ANIK) Receives Average Recommendation of “Buy” from Analysts

Anika Therapeutics Inc (NASDAQ:ANIK) has been given an average rating of “Buy” by the eight research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $52.00.

Several equities research analysts recently weighed in on the company. BidaskClub raised Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th. ValuEngine downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. TheStreet raised Anika Therapeutics from a “c” rating to a “b-” rating in a report on Friday, July 26th. Barrington Research reaffirmed an “outperform” rating and set a $58.00 target price (up from $49.00) on shares of Anika Therapeutics in a report on Tuesday, September 24th. Finally, First Analysis downgraded Anika Therapeutics from a “strong-buy” rating to an “outperform” rating and set a $54.00 target price on the stock. in a report on Monday, September 23rd.

In other news, Director Raymond J. Land sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $55.44, for a total value of $166,320.00. Following the transaction, the director now directly owns 11,992 shares of the company’s stock, valued at approximately $664,836.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph L. Bower sold 1,994 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $55.57, for a total value of $110,806.58. Following the completion of the transaction, the director now directly owns 43,010 shares in the company, valued at $2,390,065.70. The disclosure for this sale can be found here. Insiders have sold a total of 14,192 shares of company stock worth $800,681 over the last ninety days. Company insiders own 3.67% of the company’s stock.

Several large investors have recently made changes to their positions in ANIK. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Anika Therapeutics by 12.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,593,321 shares of the biotechnology company’s stock valued at $48,182,000 after purchasing an additional 174,716 shares during the period. Jefferies Group LLC increased its position in Anika Therapeutics by 105.2% in the 2nd quarter. Jefferies Group LLC now owns 5,435 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 110,490 shares in the last quarter. BTIM Corp. increased its position in Anika Therapeutics by 40.9% in the 2nd quarter. BTIM Corp. now owns 371,190 shares of the biotechnology company’s stock valued at $15,077,000 after buying an additional 107,675 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Anika Therapeutics by 32.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 413,051 shares of the biotechnology company’s stock valued at $16,778,000 after buying an additional 101,443 shares in the last quarter. Finally, Natixis Advisors L.P. increased its position in Anika Therapeutics by 179.7% in the 2nd quarter. Natixis Advisors L.P. now owns 157,559 shares of the biotechnology company’s stock valued at $6,400,000 after buying an additional 101,237 shares in the last quarter. 93.74% of the stock is currently owned by institutional investors.

Shares of ANIK traded down $0.89 during midday trading on Monday, hitting $56.98. The company’s stock had a trading volume of 112,116 shares, compared to its average volume of 176,913. Anika Therapeutics has a one year low of $29.01 and a one year high of $59.76. The company’s fifty day simple moving average is $55.69 and its two-hundred day simple moving average is $45.56. The company has a quick ratio of 16.07, a current ratio of 18.28 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $803.27 million, a price-to-earnings ratio of 30.96, a price-to-earnings-growth ratio of 3.33 and a beta of 1.04.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, July 24th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.25. Anika Therapeutics had a return on equity of 11.27% and a net margin of 26.87%. The company had revenue of $30.42 million for the quarter, compared to the consensus estimate of $27.41 million. During the same quarter last year, the business posted $0.68 EPS. Anika Therapeutics’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts predict that Anika Therapeutics will post 1.75 earnings per share for the current 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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