Anika Therapeutics (NASDAQ:ANIK) Upgraded to Buy at StockNews.com

Anika Therapeutics (NASDAQ:ANIK) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Separately, Barrington Research reduced their price target on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday.

Anika Therapeutics Stock Down 11.1 %

Shares of ANIK stock traded down $1.90 during mid-day trading on Thursday, hitting $15.21. 158,575 shares of the stock were exchanged, compared to its average volume of 70,118. The firm has a fifty day moving average of $16.90 and a 200 day moving average of $19.62. Anika Therapeutics has a 52-week low of $14.95 and a 52-week high of $29.11. The company has a market cap of $222.77 million, a PE ratio of -2.29 and a beta of 0.95.

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 the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The firm had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $29.00 million. Equities analysts predict that Anika Therapeutics will post -0.84 EPS for the current year.

Institutional Trading of Anika Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Alta Fundamental Advisers LLC raised its holdings in Anika Therapeutics by 136.6% in the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company’s stock valued at $11,529,000 after acquiring an additional 404,350 shares during the last quarter. Boothbay Fund Management LLC grew its stake in shares of Anika Therapeutics by 5.1% in the 4th quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company’s stock valued at $8,716,000 after buying an additional 25,665 shares during the period. Capital Management Corp VA grew its stake in shares of Anika Therapeutics by 12.1% in the 4th quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company’s stock valued at $5,358,000 after buying an additional 35,195 shares during the period. Stonepine Capital Management LLC grew its stake in shares of Anika Therapeutics by 25.8% in the 4th quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company’s stock valued at $3,921,000 after buying an additional 48,914 shares during the period. Finally, Meros Investment Management LP grew its stake in shares of Anika Therapeutics by 11.6% in the 3rd quarter. Meros Investment Management LP now owns 237,295 shares of the biotechnology company’s stock valued at $5,861,000 after buying an additional 24,581 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.