Anika Therapeutics (NASDAQ:ANIK) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Anika Therapeutics (NASDAQ:ANIK – Get Rating) in a research report issued on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the company. Barrington Research lowered Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 7th. Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of Anika Therapeutics in a research report on Friday, April 14th.

Anika Therapeutics Stock Performance

Shares of ANIK opened at $26.02 on Thursday. The firm has a market cap of $384.06 million, a P/E ratio of -16.90 and a beta of 0.83. Anika Therapeutics has a twelve month low of $20.12 and a twelve month high of $32.51. The firm’s 50 day moving average price is $27.01 and its two-hundred day moving average price is $29.13.

Anika Therapeutics (NASDAQ:ANIK – Get Rating) last posted its quarterly earnings data on Monday, March 6th. The biotechnology company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06). The company had revenue of $39.62 million during the quarter, compared to the consensus estimate of $38.32 million. Anika Therapeutics had a negative net margin of 14.15% and a negative return on equity of 3.77%. On average, sell-side analysts anticipate that Anika Therapeutics will post -1.13 earnings per share for the current fiscal year.

Institutional Trading of Anika Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ANIK. Quadrant Capital Group LLC increased its position in shares of Anika Therapeutics by 3,596.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,072 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 1,043 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Anika Therapeutics by 61.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 608 shares in the last quarter. US Bancorp DE lifted its stake in Anika Therapeutics by 315.5% in the third quarter. US Bancorp DE now owns 2,389 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 1,814 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Anika Therapeutics in the 4th quarter valued at about $58,000. Finally, Mutual of America Capital Management LLC increased its stake in shares of Anika Therapeutics by 18.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 2,905 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 462 shares during the last quarter. Institutional investors own 91.57% of the company’s stock.

About Anika Therapeutics

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Anika Therapeutics, Inc is an orthopedic and regenerative medicines company, which develops, manufactures and commercializes therapeutic products for pain management, tissue regeneration, and wound healing. Its products are based on hyaluronic acid, a natural chemical occurring, biocompatible polymer found throughout the body.