Anika Therapeutics Inc (ANIK) Given Average Recommendation of “Buy” by Analysts

Shares of Anika Therapeutics Inc (NASDAQ:ANIK) have received an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.00.

ANIK has been the topic of several recent research reports. Zacks Investment Research raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, August 6th. BidaskClub downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, September 14th. Barrington Research raised shares of Anika Therapeutics from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 16th.

ANIK traded up $0.59 during trading on Friday, hitting $34.87. 30,404 shares of the company traded hands, compared to its average volume of 150,004. The firm has a market cap of $487.17 million, a P/E ratio of 17.79 and a beta of 1.93. Anika Therapeutics has a one year low of $28.54 and a one year high of $69.81.

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

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Anika Therapeutics by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 861,569 shares of the biotechnology company’s stock worth $36,340,000 after purchasing an additional 8,799 shares during the last quarter. Legal & General Group Plc raised its position in shares of Anika Therapeutics by 7.9% in the 3rd quarter. Legal & General Group Plc now owns 31,343 shares of the biotechnology company’s stock worth $1,322,000 after purchasing an additional 2,304 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Anika Therapeutics by 6.9% in the 3rd quarter. Teachers Advisors LLC now owns 28,084 shares of the biotechnology company’s stock worth $1,185,000 after purchasing an additional 1,802 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Anika Therapeutics by 57.5% in the 3rd quarter. MetLife Investment Advisors LLC now owns 11,162 shares of the biotechnology company’s stock worth $471,000 after purchasing an additional 4,075 shares during the last quarter. Finally, BlueMountain Capital Management LLC raised its position in shares of Anika Therapeutics by 23.7% in the 3rd quarter. BlueMountain Capital Management LLC now owns 12,181 shares of the biotechnology company’s stock worth $514,000 after purchasing an additional 2,332 shares during the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

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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