Systematic Financial Management LP reduced its position in shares of Anika Therapeutics Inc (NASDAQ:ANIK) by 35.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,160 shares of the biotechnology company’s stock after selling 12,450 shares during the period. Systematic Financial Management LP owned 0.16% of Anika Therapeutics worth $941,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BTIM Corp. increased its position in Anika Therapeutics by 40.9% during the 2nd quarter. BTIM Corp. now owns 371,190 shares of the biotechnology company’s stock valued at $15,077,000 after purchasing an additional 107,675 shares during the period. Eqis Capital Management Inc. purchased a new position in Anika Therapeutics during the 2nd quarter valued at $415,000. Louisiana State Employees Retirement System purchased a new position in Anika Therapeutics during the 2nd quarter valued at $212,000. WINTON GROUP Ltd purchased a new position in Anika Therapeutics during the 2nd quarter valued at $332,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Anika Therapeutics by 12.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,593,321 shares of the biotechnology company’s stock valued at $48,182,000 after purchasing an additional 174,716 shares during the period. 97.41% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on ANIK. Barrington Research reissued a “buy” rating and set a $49.00 price objective (up from $45.00) on shares of Anika Therapeutics in a research report on Thursday, July 25th. First Analysis raised shares of Anika Therapeutics from a “neutral” rating to a “strong-buy” rating and upped their target price for the stock from $37.00 to $54.00 in a research report on Thursday, July 25th. Zacks Investment Research downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. TheStreet raised shares of Anika Therapeutics from a “c” rating to a “b-” rating in a research report on Friday, July 26th. Finally, BidaskClub downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.00.
Shares of NASDAQ:ANIK traded down $0.32 during midday trading on Friday, reaching $56.26. The company’s stock had a trading volume of 135,657 shares, compared to its average volume of 293,688. The business has a 50 day moving average of $45.10. The stock has a market capitalization of $779.84 million, a price-to-earnings ratio of 30.58, a P/E/G ratio of 3.23 and a beta of 1.08. The company has a quick ratio of 16.07, a current ratio of 18.28 and a debt-to-equity ratio of 0.09. Anika Therapeutics Inc has a 12-month low of $29.01 and a 12-month high of $57.95.
Anika Therapeutics (NASDAQ:ANIK) last released its earnings results on Wednesday, July 24th. The biotechnology company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.25. The firm had revenue of $30.42 million for the quarter, compared to the consensus estimate of $27.41 million. Anika Therapeutics had a net margin of 26.87% and a return on equity of 11.27%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. As a group, analysts predict that Anika Therapeutics Inc will post 1.75 EPS for the current fiscal year.
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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