Barrington Research Lowers Anika Therapeutics (NASDAQ:ANIK) Price Target to $19.00

Anika Therapeutics (NASDAQ:ANIK) had its target price cut by research analysts at Barrington Research from $20.00 to $19.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s target price suggests a potential upside of 63.23% from the stock’s previous close.

Several other research firms also recently issued reports on ANIK. B. Riley assumed coverage on shares of Anika Therapeutics in a research note on Thursday, April 17th. They issued a “buy” rating and a $21.00 price objective for the company. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

Anika Therapeutics Trading Down 21.0%

ANIK stock opened at $11.64 on Monday. The stock has a market cap of $166.93 million, a price-to-earnings ratio of -1.75 and a beta of 0.76. The business’s 50-day moving average is $14.80 and its 200 day moving average is $16.43. Anika Therapeutics has a 12-month low of $11.48 and a 12-month high of $29.12.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Friday, May 9th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.37). The company had revenue of $26.17 million for the quarter, compared to analysts’ expectations of $27.50 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. As a group, equities analysts forecast that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Anika Therapeutics in the fourth quarter valued at about $27,000. Aquatic Capital Management LLC acquired a new stake in shares of Anika Therapeutics during the fourth quarter worth $42,000. Tower Research Capital LLC TRC boosted its holdings in shares of Anika Therapeutics by 412.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 2,326 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Anika Therapeutics by 4,714.3% during the first quarter. GAMMA Investing LLC now owns 6,403 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 6,270 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Anika Therapeutics by 31.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 1,759 shares during the last quarter. 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.