Anika Therapeutics Inc (ANIK) Stake Lowered by Northern Trust Corp

Northern Trust Corp lessened its position in Anika Therapeutics Inc (NASDAQ:ANIK) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 197,347 shares of the biotechnology company’s stock after selling 2,075 shares during the period. Northern Trust Corp’s holdings in Anika Therapeutics were worth $6,316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ANIK. Millennium Management LLC lifted its holdings in shares of Anika Therapeutics by 1,024.4% in the first quarter. Millennium Management LLC now owns 43,415 shares of the biotechnology company’s stock valued at $2,159,000 after purchasing an additional 39,554 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Anika Therapeutics by 4.3% in the first quarter. Royal Bank of Canada now owns 48,756 shares of the biotechnology company’s stock valued at $2,425,000 after purchasing an additional 2,030 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Anika Therapeutics by 3.0% in the first quarter. Principal Financial Group Inc. now owns 117,585 shares of the biotechnology company’s stock valued at $5,846,000 after purchasing an additional 3,376 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Anika Therapeutics by 40.2% in the second quarter. AMI Asset Management Corp now owns 344,668 shares of the biotechnology company’s stock valued at $11,029,000 after purchasing an additional 98,873 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of Anika Therapeutics in the second quarter valued at approximately $453,000. Institutional investors own 96.67% of the company’s stock.

Shares of ANIK opened at $35.71 on Friday. The company has a market cap of $507.47 million, a P/E ratio of 21.01 and a beta of 1.93. Anika Therapeutics Inc has a 12 month low of $28.54 and a 12 month high of $69.81.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, October 24th. The biotechnology company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.22. The company had revenue of $26.79 million during the quarter, compared to the consensus estimate of $27.12 million. Anika Therapeutics had a return on equity of 9.78% and a net margin of 17.66%. Anika Therapeutics’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share.

ANIK has been the topic of a number of recent research reports. Barrington Research upgraded Anika Therapeutics from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Friday, July 27th. BidaskClub downgraded Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. ValuEngine downgraded Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Zacks Investment Research downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.00.

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About Anika Therapeutics

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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Institutional Ownership by Quarter for Anika Therapeutics (NASDAQ:ANIK)

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