Anika Therapeutics (ANIK) Downgraded by BidaskClub

BidaskClub lowered shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a sell rating in a research note published on Friday.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Anika Therapeutics from a strong-buy rating to a hold rating in a research note on Thursday, December 27th. ValuEngine lowered Anika Therapeutics from a hold rating to a sell rating in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $41.00.

NASDAQ:ANIK opened at $34.05 on Friday. Anika Therapeutics has a 52-week low of $28.54 and a 52-week high of $69.81. The firm has a market cap of $490.01 million, a P/E ratio of 17.37, a P/E/G ratio of 2.15 and a beta of 1.59.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, October 24th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.22. Anika Therapeutics had a return on equity of 9.78% and a net margin of 17.66%. The company had revenue of $26.79 million for the quarter, compared to analyst estimates of $27.12 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts anticipate that Anika Therapeutics will post 1.67 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Anika Therapeutics by 81.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,264 shares of the biotechnology company’s stock worth $104,000 after acquiring an additional 1,467 shares during the last quarter. Legal & General Group Plc increased its stake in Anika Therapeutics by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 29,039 shares of the biotechnology company’s stock worth $922,000 after acquiring an additional 1,762 shares during the last quarter. Teachers Advisors LLC increased its stake in 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 acquiring an additional 1,802 shares during the last quarter. Rhumbline Advisers increased its stake in Anika Therapeutics by 5.8% in the 2nd quarter. Rhumbline Advisers now owns 35,848 shares of the biotechnology company’s stock worth $1,147,000 after acquiring an additional 1,972 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Anika Therapeutics by 134.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 4,010 shares of the biotechnology company’s stock worth $169,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.

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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