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

StockNews.com upgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a buy rating in a report issued on Thursday morning.

Separately, Barrington Research lowered their price objective on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday.

Anika Therapeutics Stock Up 4.6 %

Shares of NASDAQ ANIK opened at $15.91 on Thursday. The firm’s 50-day moving average price is $16.90 and its 200-day moving average price is $19.51. 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 $233.02 million, a PE ratio of -2.39 and a beta of 0.95.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share 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 business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.00 million. As a group, equities 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 institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new stake in Anika Therapeutics during the 4th quarter worth approximately $231,000. Public Employees Retirement System of Ohio bought a new stake in Anika Therapeutics during the 4th quarter worth approximately $137,000. Squarepoint Ops LLC bought a new stake in Anika Therapeutics during the 4th quarter worth approximately $212,000. 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 worth $3,921,000 after acquiring an additional 48,914 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Anika Therapeutics during the 4th quarter worth approximately $1,958,000. 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.