Anika Therapeutics (ANIK) Stock Rating Lowered by Zacks Investment Research

Anika Therapeutics (NASDAQ:ANIK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Anika Therapeutics, Inc. is a global, integrated orthopedic medicines company based in Bedford, Massachusetts. Anika is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along the continuum of care, from palliative pain management to regenerative cartilage repair. Anika’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. “

Several other equities research analysts also recently issued reports on the stock. BidaskClub upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. ValuEngine downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Anika Therapeutics stock opened at $40.49 on Wednesday. Anika Therapeutics has a one year low of $28.54 and a one year high of $61.42. The stock has a market cap of $569.17 million, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.50 and a beta of 1.56.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Thursday, February 21st. The biotechnology company reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.22. Anika Therapeutics had a net margin of 17.66% and a return on equity of 9.78%. The company had revenue of $27.00 million during the quarter, compared to the consensus estimate of $26.22 million. During the same period in the prior year, the business posted $0.53 EPS. The company’s quarterly revenue was down 8.2% on a year-over-year basis. Research analysts anticipate that Anika Therapeutics will post 1.67 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Anika Therapeutics by 3.8% in the 3rd quarter. BlackRock Inc. now owns 2,136,362 shares of the biotechnology company’s stock valued at $90,112,000 after purchasing an additional 78,532 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Anika Therapeutics by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 997,485 shares of the biotechnology company’s stock valued at $42,074,000 after acquiring an additional 19,916 shares during the period. Vanguard Group Inc raised its holdings in Anika Therapeutics by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 861,569 shares of the biotechnology company’s stock valued at $36,340,000 after acquiring an additional 8,799 shares during the period. Vanguard Group Inc. raised its holdings in Anika Therapeutics by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 861,569 shares of the biotechnology company’s stock valued at $36,340,000 after acquiring an additional 8,799 shares during the period. Finally, AMI Asset Management Corp raised its holdings in Anika Therapeutics by 1.3% in the 4th quarter. AMI Asset Management Corp now owns 322,062 shares of the biotechnology company’s stock valued at $10,825,000 after acquiring an additional 4,243 shares during the period. Institutional investors and hedge funds own 90.21% 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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