Anika Therapeutics (NASDAQ:ANIK) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

ANIK has been the subject of several other research reports. Sidoti set a $50.00 target price on shares of Anika Therapeutics and gave the stock a hold rating in a research note on Friday, October 25th. Zacks Investment Research raised shares of Anika Therapeutics from a hold rating to a strong-buy rating and set a $61.00 target price for the company in a research note on Thursday, September 26th. Barrington Research reaffirmed an outperform rating and set a $58.00 target price (up previously from $49.00) on shares of Anika Therapeutics in a research note on Tuesday, September 24th. ValuEngine lowered shares of Anika Therapeutics from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, TheStreet raised shares of Anika Therapeutics from a c rating to a b- rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $50.40.

Shares of NASDAQ:ANIK traded down $0.19 during trading on Friday, hitting $60.22. 158,900 shares of the stock traded hands, compared to its average volume of 184,290. The company has a quick ratio of 17.74, a current ratio of 19.99 and a debt-to-equity ratio of 0.08. Anika Therapeutics has a 52-week low of $29.01 and a 52-week high of $75.71. The company has a fifty day moving average price of $59.53 and a two-hundred day moving average price of $48.65. The company has a market cap of $893.41 million, a price-to-earnings ratio of 32.73, a P/E/G ratio of 3.09 and a beta of 1.07.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Thursday, October 24th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.25. The firm had revenue of $29.70 million during the quarter, compared to analyst estimates of $27.01 million. Anika Therapeutics had a net margin of 27.60% and a return on equity of 11.59%. Anika Therapeutics’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts predict that Anika Therapeutics will post 2.03 EPS for the current fiscal year.

In other news, CFO Sylvia Cheung sold 20,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $59.71, for a total transaction of $1,194,200.00. Following the sale, the chief financial officer now owns 71,422 shares of the company’s stock, valued at $4,264,607.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph L. Bower sold 1,994 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $55.57, for a total transaction of $110,806.58. Following the sale, the director now directly owns 43,010 shares in the company, valued at approximately $2,390,065.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,349 shares of company stock valued at $1,554,156. 3.67% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System lifted its position in shares of Anika Therapeutics by 1.2% during the third quarter. California Public Employees Retirement System now owns 21,247 shares of the biotechnology company’s stock worth $1,166,000 after purchasing an additional 244 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Anika Therapeutics by 5.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 11,873 shares of the biotechnology company’s stock worth $482,000 after purchasing an additional 600 shares in the last quarter. BB&T Securities LLC lifted its position in shares of Anika Therapeutics by 5.0% during the third quarter. BB&T Securities LLC now owns 16,366 shares of the biotechnology company’s stock worth $898,000 after purchasing an additional 772 shares in the last quarter. Swiss National Bank lifted its position in shares of Anika Therapeutics by 3.5% during the second quarter. Swiss National Bank now owns 26,400 shares of the biotechnology company’s stock worth $1,072,000 after purchasing an additional 900 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Anika Therapeutics during the second quarter worth about $44,000. 98.97% of the stock is currently owned by institutional investors and hedge funds.

Anika Therapeutics Company Profile

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.

Further Reading: Market Capitalization – What it Means for Investors

Analyst Recommendations for Anika Therapeutics (NASDAQ:ANIK)

Receive News & Ratings for Anika Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anika Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit