Jacobs Levy Equity Management Inc. Buys Shares of 118,976 Anika Therapeutics, Inc. (NASDAQ:ANIK)

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Anika Therapeutics, Inc. (NASDAQ:ANIK) during the 4th quarter, Holdings Channel.com reports. The fund purchased 118,976 shares of the biotechnology company’s stock, valued at approximately $1,958,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in Anika Therapeutics in the 4th quarter worth $27,000. Aquatic Capital Management LLC purchased a new position in shares of Anika Therapeutics during the fourth quarter valued at about $42,000. Tower Research Capital LLC TRC grew its position in shares of Anika Therapeutics by 412.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 2,326 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Anika Therapeutics by 31.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Connors Investor Services Inc. grew its position in Anika Therapeutics by 8.0% in the fourth quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company’s stock worth $190,000 after acquiring an additional 861 shares in the last quarter. 91.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ANIK has been the topic of several recent analyst reports. StockNews.com downgraded shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. B. Riley began coverage on shares of Anika Therapeutics in a research note on Thursday, April 17th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Barrington Research reduced their price target on Anika Therapeutics from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday.

Anika Therapeutics Price Performance

Shares of ANIK opened at $12.24 on Friday. The firm has a market capitalization of $175.53 million, a PE ratio of -1.84 and a beta of 0.76. Anika Therapeutics, Inc. has a 1-year low of $11.11 and a 1-year high of $29.12. The company’s fifty day moving average price is $14.41 and its 200-day moving average price is $16.19.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). The business had revenue of $30.60 million for the quarter, compared to analyst estimates of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. As a group, research analysts anticipate that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Anika Therapeutics Company Profile

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.