Royal Bank of Canada cut its stake in Anika Therapeutics Inc. (NASDAQ:ANIK) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,950 shares of the biotechnology company’s stock after selling 471 shares during the quarter. Royal Bank of Canada owned approximately 0.27% of Anika Therapeutics worth $1,971,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Miles Capital Inc. bought a new position in shares of Anika Therapeutics in the second quarter valued at about $232,000. Stifel Financial Corp raised its position in shares of Anika Therapeutics by 16.3% in the second quarter. Stifel Financial Corp now owns 163,694 shares of the biotechnology company’s stock valued at $8,076,000 after purchasing an additional 22,990 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 106,307 shares during the period. California Public Employees Retirement System raised its position in shares of Anika Therapeutics by 2.2% in the second quarter. California Public Employees Retirement System now owns 74,000 shares of the biotechnology company’s stock valued at $3,651,000 after purchasing an additional 1,600 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 15,797 shares during the period. 84.44% of the stock is currently owned by institutional investors.
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Several equities analysts have recently weighed in on ANIK shares. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Anika Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Barrington Research increased their price objective on shares of Anika Therapeutics from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday.
In other Anika Therapeutics news, CEO Charles H. Sherwood sold 22,228 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $60.06, for a total transaction of $1,335,013.68. Following the sale, the chief executive officer now directly owns 158,297 shares of the company’s stock, valued at $9,507,317.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles H. Sherwood sold 3,293 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $60.04, for a total transaction of $197,711.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,636 shares of company stock worth $2,320,435. Insiders own 6.57% of the company’s stock.
Anika Therapeutics Inc. (NASDAQ ANIK) opened at 55.68 on Friday. The company has a market capitalization of $816.16 million, a price-to-earnings ratio of 24.74 and a beta of 1.66. Anika Therapeutics Inc. has a 12 month low of $41.38 and a 12 month high of $60.29. The stock has a 50 day moving average of $57.93 and a 200 day moving average of $50.82.
Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $27.44 million. Anika Therapeutics had a net margin of 28.23% and a return on equity of 13.40%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Equities analysts anticipate that Anika Therapeutics Inc. will post $2.05 EPS for the current fiscal year.
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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