BidaskClub upgraded shares of Anika Therapeutics Inc. (NASDAQ:ANIK) from a hold rating to a buy rating in a report published on Tuesday, August 8th.
Separately, Zacks Investment Research upgraded Anika Therapeutics from a sell rating to a hold rating in a research report on Wednesday, July 5th.
Shares of Anika Therapeutics (NASDAQ ANIK) traded up 0.27% during midday trading on Tuesday, reaching $52.82. 489,516 shares of the company’s stock were exchanged. The company has a market capitalization of $774.24 million, a PE ratio of 23.47 and a beta of 1.69. Anika Therapeutics has a 1-year low of $41.38 and a 1-year high of $53.99. The firm has a 50-day moving average of $49.79 and a 200-day moving average of $47.14.
Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.32. The firm had revenue of $33.50 million during the quarter, compared to analyst estimates of $27.20 million. Anika Therapeutics had a return on equity of 14.88% and a net margin of 30.44%. The company’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Equities analysts expect that Anika Therapeutics will post $2.20 earnings per share for the current fiscal year.
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In other news, Director Jeffery S. Thompson sold 10,725 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $47.39, for a total transaction of $508,257.75. Following the completion of the transaction, the director now directly owns 15,845 shares in the company, valued at approximately $750,894.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles H. Sherwood sold 63,799 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $50.79, for a total value of $3,240,351.21. Following the transaction, the chief executive officer now owns 174,705 shares of the company’s stock, valued at $8,873,266.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,725 shares of company stock valued at $4,459,085. Corporate insiders own 6.57% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in Anika Therapeutics by 6.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,423,593 shares of the biotechnology company’s stock valued at $70,241,000 after buying an additional 88,418 shares during the last quarter. Wellington Management Group LLP raised its position in Anika Therapeutics by 0.6% in the first quarter. Wellington Management Group LLP now owns 1,126,330 shares of the biotechnology company’s stock valued at $48,927,000 after buying an additional 6,373 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Anika Therapeutics by 13.8% in the second quarter. Dimensional Fund Advisors LP now owns 878,006 shares of the biotechnology company’s stock valued at $43,321,000 after buying an additional 106,307 shares during the last quarter. Vanguard Group Inc. raised its position in Anika Therapeutics by 2.0% in the second quarter. Vanguard Group Inc. now owns 807,039 shares of the biotechnology company’s stock valued at $39,818,000 after buying an additional 15,797 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Anika Therapeutics by 76.8% in the second quarter. Bank of New York Mellon Corp now owns 490,433 shares of the biotechnology company’s stock valued at $24,199,000 after buying an additional 213,055 shares during the last quarter. Institutional investors own 82.25% of the company’s stock.
About Anika Therapeutics
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
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