Short Interest in Anika Therapeutics, Inc. (NASDAQ:ANIK) Drops By 5.6%

Anika Therapeutics, Inc. (NASDAQ:ANIK) saw a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 744,500 shares, a decline of 5.6% from the May 15th total of 788,500 shares. Based on an average daily volume of 66,800 shares, the short-interest ratio is currently 11.1 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ANIK. Barrington Research reaffirmed an “outperform” rating and set a $37.00 price target on shares of Anika Therapeutics in a research report on Thursday, May 9th. Stephens reiterated an “equal weight” rating and set a $24.00 price target on shares of Anika Therapeutics in a research report on Wednesday, May 29th. Finally, StockNews.com raised Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, March 14th.

Institutional Trading of Anika Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners acquired a new stake in shares of Anika Therapeutics in the first quarter valued at about $733,000. Lazard Asset Management LLC purchased a new position in Anika Therapeutics in the 1st quarter valued at about $180,000. Acadian Asset Management LLC boosted its holdings in Anika Therapeutics by 25.8% in the 1st quarter. Acadian Asset Management LLC now owns 421,427 shares of the biotechnology company’s stock worth $10,701,000 after buying an additional 86,436 shares during the last quarter. Capital Management Corp VA increased its stake in Anika Therapeutics by 2.4% during the 1st quarter. Capital Management Corp VA now owns 364,025 shares of the biotechnology company’s stock worth $9,246,000 after buying an additional 8,491 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Anika Therapeutics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock worth $19,652,000 after buying an additional 9,657 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Stock Down 1.1 %

ANIK opened at $25.99 on Tuesday. The company has a fifty day moving average of $25.92 and a two-hundred day moving average of $24.61. Anika Therapeutics has a fifty-two week low of $16.54 and a fifty-two week high of $28.67.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $40.52 million for the quarter, compared to analyst estimates of $39.23 million. Anika Therapeutics had a negative net margin of 45.39% and a positive return on equity of 0.48%. Sell-side analysts predict that Anika Therapeutics will post 1.08 earnings per share for the current fiscal year.

Anika Therapeutics Company Profile

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.