Zacks: Analysts Anticipate Anika Therapeutics Inc (NASDAQ:ANIK) Will Announce Quarterly Sales of $28.51 Million

Wall Street analysts expect Anika Therapeutics Inc (NASDAQ:ANIK) to post sales of $28.51 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Anika Therapeutics’ earnings, with the lowest sales estimate coming in at $28.01 million and the highest estimate coming in at $29.01 million. Anika Therapeutics posted sales of $30.55 million during the same quarter last year, which suggests a negative year over year growth rate of 6.7%. The business is scheduled to issue its next earnings report on Wednesday, July 24th.

On average, analysts expect that Anika Therapeutics will report full-year sales of $101.70 million for the current financial year, with estimates ranging from $101.56 million to $101.84 million. For the next fiscal year, analysts anticipate that the firm will post sales of $105.27 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Anika Therapeutics.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. Anika Therapeutics had a net margin of 27.44% and a return on equity of 11.57%. The company had revenue of $24.72 million during the quarter, compared to analyst estimates of $22.06 million. During the same quarter last year, the business posted ($0.46) EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis.

Several equities research analysts have recently commented on ANIK shares. ValuEngine upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. Sidoti set a $35.00 price target on shares of Anika Therapeutics and gave the company a “hold” rating in a report on Tuesday, March 5th. BidaskClub lowered shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, March 1st. TheStreet lowered shares of Anika Therapeutics from a “b-” rating to a “c” rating in a report on Friday, March 29th. Finally, Singular Research restated a “buy” rating on shares of Anika Therapeutics in a report on Thursday, February 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.00.

Institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV purchased a new position in shares of Anika Therapeutics in the 4th quarter worth approximately $76,000. Quantamental Technologies LLC purchased a new position in shares of Anika Therapeutics in the 1st quarter worth approximately $69,000. BNP Paribas Arbitrage SA grew its position in shares of Anika Therapeutics by 356.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,891 shares of the biotechnology company’s stock worth $87,000 after buying an additional 2,257 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Anika Therapeutics in the 4th quarter worth approximately $140,000. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Anika Therapeutics by 382.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,141 shares of the biotechnology company’s stock worth $173,000 after buying an additional 4,075 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ANIK traded up $0.11 during trading hours on Wednesday, hitting $38.72. The company’s stock had a trading volume of 112,500 shares, compared to its average volume of 168,904. Anika Therapeutics has a 52 week low of $29.01 and a 52 week high of $44.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 18.07 and a quick ratio of 16.12. The firm has a market capitalization of $551.80 million, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. The company’s fifty day moving average is $39.03.

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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