Anika Therapeutics (NASDAQ:ANIK) Upgraded at Wall Street Zen

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

ANIK has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anika Therapeutics in a report on Wednesday, June 24th. B. Riley Financial boosted their price objective on Anika Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barrington Research set a $21.00 price objective on shares of Anika Therapeutics in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.00.

Anika Therapeutics Price Performance

Shares of NASDAQ:ANIK opened at $20.74 on Friday. The firm has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $13.86. The company has a market cap of $277.56 million, a price-to-earnings ratio of -76.81 and a beta of 0.23. Anika Therapeutics has a one year low of $7.92 and a one year high of $21.12.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Anika Therapeutics will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Anika Therapeutics

A number of large investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Anika Therapeutics in the 3rd quarter worth approximately $71,000. CWM LLC grew its holdings in shares of Anika Therapeutics by 14.5% during the 4th quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 1,080 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in Anika Therapeutics in the 3rd quarter worth $95,000. Ieq Capital LLC purchased a new position in Anika Therapeutics in the 4th quarter worth $97,000. Finally, Tudor Investment Corp ET AL bought a new stake in Anika Therapeutics in the third quarter worth $107,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

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.