Anika Therapeutics Inc. (NASDAQ:ANIK – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.84 and traded as high as $22.05. Anika Therapeutics shares last traded at $21.26, with a volume of 80,206 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on ANIK shares. Barrington Research set a $21.00 target price on shares of Anika Therapeutics in a report on Thursday, July 30th. Zacks Research upgraded Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen raised Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. B. Riley Financial increased their price target on shares of Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Anika Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.
Read Our Latest Research Report on ANIK
Anika Therapeutics Stock Performance
Anika Therapeutics (NASDAQ:ANIK – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.39. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%.The firm had revenue of $32.61 million for the quarter, compared to analysts’ expectations of $29.21 million. On average, analysts predict that Anika Therapeutics Inc. will post 0.14 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Anika Therapeutics
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Anika Therapeutics during the second quarter valued at about $21,209,000. Opaleye Management Inc. lifted its position in shares of Anika Therapeutics by 49.1% in the second quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock worth $6,229,000 after buying an additional 193,797 shares in the last quarter. Deutsche Bank AG bought a new stake in Anika Therapeutics in the 2nd quarter worth approximately $5,172,000. State Street Corp boosted its position in shares of Anika Therapeutics by 4.1% during the 4th quarter. State Street Corp now owns 336,543 shares of the biotechnology company’s stock valued at $3,234,000 after acquiring an additional 13,165 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Anika Therapeutics by 78.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock valued at $1,880,000 after purchasing an additional 85,771 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.
The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.
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