B. Riley Upgrades Anika Therapeutics (NASDAQ:ANIK) to “Strong-Buy”

Anika Therapeutics (NASDAQ:ANIK) was upgraded by research analysts at B. Riley to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Barrington Research reduced their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. StockNews.com upgraded Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th.

Anika Therapeutics Trading Up 4.1 %

Shares of ANIK stock opened at $14.02 on Wednesday. The stock has a market capitalization of $198.75 million, a P/E ratio of -2.11 and a beta of 0.82. The firm’s 50 day moving average is $15.87 and its 200 day moving average is $17.72. Anika Therapeutics has a 12-month low of $12.83 and a 12-month high of $29.12.

Anika Therapeutics (NASDAQ:ANIK) last announced 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 during the quarter, compared to analysts’ expectations of $29.00 million. As a group, equities analysts predict that Anika Therapeutics will post -0.84 earnings per share for the current year.

Institutional Investors Weigh In On Anika Therapeutics

Several institutional investors have recently added to or reduced their stakes in ANIK. Alta Fundamental Advisers LLC increased its stake in shares of Anika Therapeutics by 136.6% during the fourth quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company’s stock worth $11,529,000 after purchasing an additional 404,350 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in Anika Therapeutics by 5.1% in the fourth 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 last quarter. Capital Management Corp VA increased its stake in Anika Therapeutics by 12.1% in the fourth quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company’s stock valued at $5,358,000 after purchasing an additional 35,195 shares during the period. Stonepine Capital Management LLC raised its stake in Anika Therapeutics by 25.8% during the 4th quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company’s stock valued at $3,921,000 after acquiring an additional 48,914 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Anika Therapeutics during the fourth quarter worth $1,958,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.