Anika Therapeutics Inc (NASDAQ:ANIK) Receives Average Rating of “Buy” from Brokerages

Shares of Anika Therapeutics Inc (NASDAQ:ANIK) have been assigned a consensus rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $50.40.

Several research analysts have commented on ANIK shares. BidaskClub downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Zacks Investment Research raised shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective for the company in a report on Thursday, September 26th. ValuEngine downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BWS Financial initiated coverage on shares of Anika Therapeutics in a report on Tuesday. They set a “sell” rating and a $29.00 price objective for the company. Finally, Barrington Research reaffirmed an “outperform” rating and set a $58.00 price objective (up from $49.00) on shares of Anika Therapeutics in a report on Tuesday, September 24th.

In other Anika Therapeutics news, Director Joseph L. Bower sold 1,994 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $55.57, for a total value of $110,806.58. Following the completion of the sale, the director now directly owns 43,010 shares of the company’s stock, valued at $2,390,065.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn R. Larsen sold 4,355 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $57.21, for a total transaction of $249,149.55. Following the completion of the sale, the director now directly owns 7,590 shares of the company’s stock, valued at $434,223.90. The disclosure for this sale can be found here. Insiders own 3.67% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ANIK. C M Bidwell & Associates Ltd. bought a new stake in Anika Therapeutics in the second quarter worth $44,000. Meeder Asset Management Inc. purchased a new position in shares of Anika Therapeutics in the third quarter valued at about $94,000. Convergence Investment Partners LLC purchased a new position in shares of Anika Therapeutics in the third quarter valued at about $145,000. Nisa Investment Advisors LLC increased its position in shares of Anika Therapeutics by 146.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,740 shares of the biotechnology company’s stock valued at $150,000 after acquiring an additional 1,630 shares during the period. Finally, Aperio Group LLC purchased a new position in shares of Anika Therapeutics in the second quarter valued at about $205,000. 98.97% of the stock is owned by institutional investors and hedge funds.

NASDAQ:ANIK traded down $0.22 during trading hours on Friday, hitting $60.19. The stock had a trading volume of 7,250 shares, compared to its average volume of 232,580. The company has a 50 day simple moving average of $59.42 and a two-hundred day simple moving average of $48.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 19.99 and a quick ratio of 17.74. Anika Therapeutics has a one year low of $29.01 and a one year high of $75.71. The firm has a market capitalization of $893.41 million, a price-to-earnings ratio of 32.71, a P/E/G ratio of 3.09 and a beta of 1.07.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Thursday, October 24th. The biotechnology company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.25. Anika Therapeutics had a net margin of 27.60% and a return on equity of 11.59%. The firm had revenue of $29.70 million during the quarter, compared to the consensus estimate of $27.01 million. During the same period last year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Anika Therapeutics will post 2.03 earnings per share for the current year.

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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Analyst Recommendations for Anika Therapeutics (NASDAQ:ANIK)

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