Anika Therapeutics (ANIK) Stock Rating Lowered by ValuEngine

ValuEngine cut shares of Anika Therapeutics (NASDAQ:ANIK) from a buy rating to a hold rating in a report published on Thursday.

Several other equities analysts have also weighed in on the company. Zacks Investment Research lowered Anika Therapeutics from a hold rating to a sell rating in a research note on Monday, February 26th. BidaskClub lowered Anika Therapeutics from a buy rating to a hold rating in a research note on Saturday, February 24th. Barrington Research lowered Anika Therapeutics from an outperform rating to a market perform rating in a research note on Friday, February 23rd. Sidoti began coverage on Anika Therapeutics in a research note on Friday, January 26th. They issued a buy rating on the stock. Finally, First Analysis raised Anika Therapeutics from an equal weight rating to an overweight rating and lifted their price objective for the company from $45.00 to $68.00 in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Anika Therapeutics presently has an average rating of Hold and a consensus target price of $62.50.

Shares of NASDAQ:ANIK opened at $46.10 on Thursday. Anika Therapeutics has a 12-month low of $42.51 and a 12-month high of $69.81. The stock has a market capitalization of $681.23, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.94 and a beta of 1.73.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The firm had revenue of $29.39 million during the quarter, compared to analyst estimates of $29.85 million. Anika Therapeutics had a net margin of 28.05% and a return on equity of 11.91%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. equities analysts predict that Anika Therapeutics will post 1.57 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new position in shares of Anika Therapeutics in the 4th quarter valued at about $160,000. BlackRock Inc. lifted its position in Anika Therapeutics by 3.2% during the 4th quarter. BlackRock Inc. now owns 1,876,645 shares of the biotechnology company’s stock worth $101,171,000 after acquiring an additional 58,120 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Anika Therapeutics by 4.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 68,551 shares of the biotechnology company’s stock worth $3,696,000 after acquiring an additional 2,686 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Anika Therapeutics by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 895,600 shares of the biotechnology company’s stock worth $51,945,000 after acquiring an additional 17,594 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Anika Therapeutics by 2.6% during the 4th quarter. Wells Fargo & Company MN now owns 215,323 shares of the biotechnology company’s stock worth $11,607,000 after acquiring an additional 5,395 shares in the last quarter. 84.41% of the stock is currently owned by institutional investors and hedge funds.

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Anika Therapeutics Company Profile

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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