Anika Therapeutics (NASDAQ:ANIK) Stock Rating Lowered by Zacks Research

Anika Therapeutics (NASDAQ:ANIK) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday, Zacks reports.

Other research analysts also recently issued research reports about the stock. Barrington Research set a $21.00 target price on shares of Anika Therapeutics in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Monday, September 21st. B. Riley Financial began coverage on Anika Therapeutics in a report on Friday, September 18th. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Wall Street Zen upgraded Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Anika Therapeutics Stock Down 3.6%

NASDAQ:ANIK opened at $19.94 on Monday. Anika Therapeutics has a twelve month low of $8.67 and a twelve month high of $22.88. The business has a 50 day moving average price of $20.15 and a two-hundred day moving average price of $16.73. The company has a market cap of $266.80 million, a P/E ratio of -73.85, a price-to-earnings-growth ratio of 14.77 and a beta of 0.20.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating 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 negative net margin of 3.14% and a positive return on equity of 0.20%. As a group, analysts anticipate that Anika Therapeutics will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Anika Therapeutics during the second quarter worth approximately $21,209,000. Deutsche Bank AG bought a new stake in Anika Therapeutics in the second quarter valued at approximately $5,172,000. Man Group plc acquired a new stake in shares of Anika Therapeutics in the second quarter valued at approximately $2,059,000. Globeflex Capital L P acquired a new stake in shares of Anika Therapeutics in the second quarter valued at approximately $1,282,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Anika Therapeutics in the second quarter valued at approximately $727,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a medical technology company focused on developing, manufacturing and commercializing products for joint health, regenerative medicine and surgical care. The company uses hyaluronic acid and other biomaterials to create therapies designed to support tissue repair, reduce pain and improve patient outcomes.

Anika’s portfolio includes viscosupplementation products for osteoarthritis, such as ORTHOVISC, MONOVISC and CINGAL, which are administered by injection into the knee and other joints.