Anika Therapeutics (NASDAQ:ANIK) Cut to “Hold” at StockNews.com

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

Separately, Barrington Research cut their target price on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st.

Anika Therapeutics Price Performance

Anika Therapeutics stock opened at $17.23 on Monday. The stock’s 50 day moving average price is $23.94 and its 200 day moving average price is $25.40. Anika Therapeutics has a one year low of $16.00 and a one year high of $29.11.

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

Institutional Investors Weigh In On Anika Therapeutics

Institutional investors have recently made changes to their positions in the company. Eastern Bank bought a new stake in shares of Anika Therapeutics in the 3rd quarter valued at approximately $28,000. Quest Partners LLC increased its holdings in shares of Anika Therapeutics by 115.8% in the 3rd quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock valued at $171,000 after acquiring an additional 3,705 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Anika Therapeutics in the 1st quarter valued at approximately $180,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Anika Therapeutics in the 1st quarter valued at approximately $198,000. Finally, Atria Investments Inc bought a new stake in shares of Anika Therapeutics in the 3rd quarter valued at approximately $218,000. 91.53% of the stock is currently owned by institutional investors.

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.