Anika Therapeutics (NASDAQ:ANIK) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other research firms have also recently commented on ANIK. Barrington Research lifted their target price on shares of Anika Therapeutics from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anika Therapeutics in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Anika Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.50.

Anika Therapeutics Price Performance

NASDAQ ANIK opened at $9.85 on Friday. The company has a fifty day moving average price of $9.24 and a 200-day moving average price of $10.43. The firm has a market cap of $142.05 million, a price-to-earnings ratio of -2.37 and a beta of 0.61. Anika Therapeutics has a 1 year low of $7.87 and a 1 year high of $18.37.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Anika Therapeutics had a negative net margin of 48.99% and a negative return on equity of 10.97%. The company had revenue of $27.82 million for the quarter, compared to analyst estimates of $27.80 million. On average, research analysts anticipate that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

A number of hedge funds have recently modified their holdings of ANIK. CWM LLC grew its holdings in Anika Therapeutics by 526.6% during the third quarter. CWM LLC now owns 7,457 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 6,267 shares during the period. Williams & Novak LLC purchased a new position in shares of Anika Therapeutics during the 3rd quarter valued at $102,000. Strs Ohio bought a new position in shares of Anika Therapeutics during the 3rd quarter worth $131,000. Atria Investments Inc grew its stake in shares of Anika Therapeutics by 19.3% during the 2nd quarter. Atria Investments Inc now owns 13,096 shares of the biotechnology company’s stock worth $139,000 after acquiring an additional 2,118 shares during the period. Finally, Man Group plc purchased a new stake in Anika Therapeutics in the 2nd quarter worth about $140,000. Institutional investors 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.