Anika Therapeutics (NASDAQ:ANIK) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Anika Therapeutics from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, October 17th. ValuEngine downgraded Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Anika Therapeutics has an average rating of “Hold” and an average target price of $41.00.
Shares of NASDAQ:ANIK opened at $33.31 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 capitalization of $486.46 million, a PE ratio of 16.99, a P/E/G ratio of 2.14 and a beta of 1.59.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in Anika Therapeutics by 81.6% during the second quarter. PNC Financial Services Group Inc. now owns 3,264 shares of the biotechnology company’s stock worth $104,000 after buying an additional 1,467 shares during the period. Tower Research Capital LLC TRC purchased a new position in Anika Therapeutics during the second quarter worth about $116,000. Nisa Investment Advisors LLC lifted its position in Anika Therapeutics by 134.5% during the third quarter. Nisa Investment Advisors LLC now owns 4,010 shares of the biotechnology company’s stock worth $169,000 after buying an additional 2,300 shares during the period. Trexquant Investment LP purchased a new position in Anika Therapeutics during the third quarter worth about $228,000. Finally, GSA Capital Partners LLP purchased a new position in Anika Therapeutics during the third quarter worth about $231,000. Hedge funds and other institutional investors 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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