Barrington Research Issues Pessimistic Forecast for Anika Therapeutics (NASDAQ:ANIK) Stock Price

Anika Therapeutics (NASDAQ:ANIK) had its price target reduced by Barrington Research from $20.00 to $19.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price target suggests a potential upside of 63.23% from the stock’s previous close.

Several other research firms have also commented on ANIK. B. Riley assumed coverage on Anika Therapeutics in a research report on Thursday, April 17th. They issued a “buy” rating and a $21.00 price objective on the stock. StockNews.com raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th.

Anika Therapeutics Trading Down 21.0%

Shares of Anika Therapeutics stock opened at $11.64 on Monday. Anika Therapeutics has a twelve month low of $11.48 and a twelve month high of $29.12. The stock has a market capitalization of $166.93 million, a P/E ratio of -1.75 and a beta of 0.76. The business’s fifty day moving average price is $14.80 and its 200 day moving average price is $16.43.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Friday, May 9th. The biotechnology company reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.37). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. The company had revenue of $26.17 million during the quarter, compared to analysts’ expectations of $27.50 million. As a group, sell-side analysts predict that Anika Therapeutics will post -0.84 EPS for the current year.

Institutional Trading of Anika Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG increased its position in shares of Anika Therapeutics by 14.4% during the first quarter. Deutsche Bank AG now owns 85,259 shares of the biotechnology company’s stock worth $1,281,000 after acquiring an additional 10,760 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Anika Therapeutics by 9.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 149,935 shares of the biotechnology company’s stock worth $2,254,000 after acquiring an additional 12,473 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Anika Therapeutics by 95.6% during the first quarter. Mackenzie Financial Corp now owns 27,484 shares of the biotechnology company’s stock worth $413,000 after acquiring an additional 13,436 shares during the last quarter. Cetera Investment Advisers acquired a new position in Anika Therapeutics in the first quarter worth about $152,000. Finally, Noesis Capital Mangement Corp acquired a new position in Anika Therapeutics in the first quarter worth about $292,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

About Anika Therapeutics

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.