Wall Street Zen upgraded shares of Anika Therapeutics (NASDAQ:ANIK – Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.
A number of other equities research analysts also recently weighed in on ANIK. B. Riley Financial raised their price target on Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a report on Wednesday, June 24th. Finally, Barrington Research set a $21.00 price objective on Anika Therapeutics in a research report on Thursday. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.00.
View Our Latest Stock Report on ANIK
Anika Therapeutics Price Performance
Anika Therapeutics (NASDAQ:ANIK – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.39. Anika Therapeutics had a negative net margin of 3.14% and a positive return on equity of 0.20%. The firm had revenue of $32.61 million for the quarter, compared to analysts’ expectations of $29.21 million. On average, research analysts expect that Anika Therapeutics will post -0.74 EPS for the current fiscal year.
Institutional Trading of Anika Therapeutics
Several hedge funds have recently added to or reduced their stakes in ANIK. Quarry LP purchased a new stake in Anika Therapeutics during the third quarter valued at about $71,000. CWM LLC lifted its stake in shares of Anika Therapeutics by 14.5% in the 4th quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 1,080 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Anika Therapeutics during the 3rd quarter valued at about $95,000. Ieq Capital LLC purchased a new stake in Anika Therapeutics during the 4th quarter valued at about $97,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Anika Therapeutics during the 3rd quarter valued at about $107,000. 91.53% of the stock is owned by institutional investors.
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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