Eastern Bank Acquires Shares of 1,150 Anika Therapeutics, Inc. (NASDAQ:ANIK)

Eastern Bank acquired a new stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) during the third quarter, Holdings Channel.com reports. The fund acquired 1,150 shares of the biotechnology company’s stock, valued at approximately $28,000.

A number of other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in shares of Anika Therapeutics by 7.8% in the first quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after buying an additional 627 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Anika Therapeutics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 47,691 shares of the biotechnology company’s stock valued at $1,208,000 after purchasing an additional 1,601 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Anika Therapeutics by 11.8% during the second quarter. American Century Companies Inc. now owns 23,892 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 2,518 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Anika Therapeutics by 16.9% during the first quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company’s stock valued at $565,000 after purchasing an additional 3,217 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Anika Therapeutics during the first quarter valued at about $180,000. 91.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and set a $37.00 price target on shares of Anika Therapeutics in a research report on Tuesday, October 22nd.

Anika Therapeutics Price Performance

ANIK opened at $24.32 on Friday. The company’s 50-day moving average is $25.04 and its 200 day moving average is $25.78. Anika Therapeutics, Inc. has a fifty-two week low of $18.44 and a fifty-two week high of $29.11. The firm has a market capitalization of $354.76 million, a P/E ratio of -4.63 and a beta of 0.83.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.24). The company had revenue of $41.92 million during the quarter, compared to the consensus estimate of $39.90 million. Anika Therapeutics had a positive return on equity of 0.94% and a negative net margin of 44.45%. During the same period in the prior year, the firm posted ($0.06) EPS. On average, equities research analysts expect that Anika Therapeutics, Inc. will post -0.1 earnings per share for the current year.

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.