Gary Fischetti Buys 1,000 Shares of Anika Therapeutics (NASDAQ:ANIK) Stock

Anika Therapeutics Inc. (NASDAQ:ANIK) Director Gary Fischetti purchased 1,000 shares of Anika Therapeutics stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $20.75 per share, with a total value of $20,750.00. Following the transaction, the director directly owned 53,015 shares of the company’s stock, valued at $1,100,061.25. This represents a 1.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Anika Therapeutics Price Performance

Anika Therapeutics stock traded down $0.42 during mid-day trading on Wednesday, reaching $19.19. 95,156 shares of the stock traded hands, compared to its average volume of 115,568. Anika Therapeutics Inc. has a 12-month low of $7.92 and a 12-month high of $21.11. The stock has a market capitalization of $256.76 million, a PE ratio of -71.07 and a beta of 0.20. The business’s 50-day moving average is $15.37 and its 200-day moving average is $13.93.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.39. The company had revenue of $32.61 million for the quarter, compared to the consensus estimate of $29.21 million. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%. Equities analysts anticipate that Anika Therapeutics Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Anika Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Opaleye Management Inc. increased its position in shares of Anika Therapeutics by 49.1% during the second quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock worth $6,229,000 after acquiring an additional 193,797 shares during the period. Goldman Sachs Group Inc. grew its stake in Anika Therapeutics by 153.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,926 shares of the biotechnology company’s stock worth $1,585,000 after purchasing an additional 99,951 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Anika Therapeutics by 78.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock worth $1,880,000 after purchasing an additional 85,771 shares in the last quarter. Jane Street Group LLC increased its holdings in Anika Therapeutics by 171.0% during the 4th quarter. Jane Street Group LLC now owns 134,768 shares of the biotechnology company’s stock worth $1,295,000 after purchasing an additional 85,029 shares during the period. Finally, GSA Capital Partners LLP raised its position in Anika Therapeutics by 192.4% during the 4th quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock valued at $1,173,000 after purchasing an additional 80,319 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ANIK. Wall Street Zen upgraded shares of Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barrington Research set a $21.00 price objective on Anika Therapeutics in a research report on Thursday, July 30th. B. Riley Financial boosted their target price on Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Anika Therapeutics in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.00.

About Anika Therapeutics

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.