Anika Therapeutics (NASDAQ:ANIK) was downgraded by equities research analysts at Barrington Research from an “outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat.com reports. Barrington Research also issued estimates for Anika Therapeutics’ Q1 2018 earnings at $0.26 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.37 EPS, FY2018 earnings at $1.55 EPS and FY2019 earnings at $1.60 EPS.
ANIK has been the subject of a number of other reports. Sidoti initiated coverage on Anika Therapeutics in a research note on Friday, January 26th. They issued a “buy” rating for the company. BidaskClub downgraded Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Finally, First Analysis upgraded Anika Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $45.00 to $68.00 in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.50.
Anika Therapeutics (NASDAQ ANIK) opened at $51.69 on Friday. The firm has a market capitalization of $678.81, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 3.50 and a beta of 1.60. Anika Therapeutics has a one year low of $41.64 and a one year high of $69.81.
Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.03). The company had revenue of $29.39 million during the quarter, compared to the consensus estimate of $29.85 million. Anika Therapeutics had a net margin of 28.05% and a return on equity of 11.91%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. equities analysts forecast that Anika Therapeutics will post 1.65 EPS for the current fiscal year.
In other news, insider Richard Hague sold 5,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $54.48, for a total value of $286,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.57% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of Anika Therapeutics in the fourth quarter valued at approximately $160,000. MetLife Investment Advisors LLC acquired a new stake in shares of Anika Therapeutics in the fourth quarter valued at approximately $382,000. BB&T Securities LLC lifted its position in shares of Anika Therapeutics by 10.0% in the fourth quarter. BB&T Securities LLC now owns 14,593 shares of the biotechnology company’s stock valued at $786,000 after buying an additional 1,327 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Anika Therapeutics by 3.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 29,588 shares of the biotechnology company’s stock valued at $1,595,000 after buying an additional 939 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of Anika Therapeutics in the fourth quarter valued at approximately $414,000. 85.29% of the stock is owned by institutional investors.
About Anika Therapeutics
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
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