Barrington Research Issues Pessimistic Forecast for Anika Therapeutics (NASDAQ:ANIK) Stock Price

Anika Therapeutics (NASDAQ:ANIK) had its price objective cut by Barrington Research from $37.00 to $25.00 in a report published on Friday, MarketBeat Ratings reports. They currently have an outperform rating on the biotechnology company’s stock.

Anika Therapeutics Trading Down 3.4 %

Shares of ANIK opened at $16.53 on Friday. The stock has a market capitalization of $244.64 million, a PE ratio of -2.49 and a beta of 0.86. Anika Therapeutics has a 12 month low of $16.00 and a 12 month high of $29.11. The firm’s 50 day moving average is $24.62 and its 200-day moving average is $25.64.

Anika Therapeutics (NASDAQ:ANIK) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.24). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The company had revenue of $41.92 million for the quarter, compared to analyst estimates of $39.90 million. During the same period last year, the company posted ($0.06) earnings per share. Equities research analysts predict that Anika Therapeutics will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANIK. Boston Partners acquired a new position in shares of Anika Therapeutics during the 1st quarter worth $733,000. State Board of Administration of Florida Retirement System bought a new position in Anika Therapeutics in the first quarter valued at about $198,000. Meros Investment Management LP raised its stake in Anika Therapeutics by 25.0% during the second quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock worth $5,388,000 after acquiring an additional 42,587 shares in the last quarter. Riverwater Partners LLC lifted its holdings in shares of Anika Therapeutics by 539.1% in the third quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company’s stock worth $2,552,000 after acquiring an additional 86,037 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its stake in shares of Anika Therapeutics by 171.4% in the 2nd quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock valued at $4,190,000 after purchasing an additional 104,448 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

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.