Anika Therapeutics (NASDAQ:ANIK) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a buy rating in a research note published on Thursday morning.

Separately, Barrington Research lowered their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday.

Anika Therapeutics Trading Down 11.1 %

Shares of ANIK opened at $15.21 on Thursday. Anika Therapeutics has a 12 month low of $14.95 and a 12 month high of $29.11. The firm’s 50 day moving average is $16.90 and its 200-day moving average is $19.62. The stock has a market capitalization of $222.77 million, a PE ratio of -2.29 and a beta of 0.95.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The business had revenue of $30.60 million for the quarter, compared to the consensus estimate of $29.00 million. Equities research analysts predict that Anika Therapeutics will post -0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in Anika Therapeutics by 54.1% in the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock valued at $601,000 after acquiring an additional 8,550 shares during the last quarter. HighTower Advisors LLC increased its stake in Anika Therapeutics by 11.3% in the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 1,615 shares during the last quarter. Barclays PLC increased its stake in Anika Therapeutics by 66.6% in the third quarter. Barclays PLC now owns 32,664 shares of the biotechnology company’s stock valued at $806,000 after acquiring an additional 13,054 shares during the last quarter. FMR LLC increased its stake in Anika Therapeutics by 25.3% in the third quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock valued at $611,000 after acquiring an additional 4,996 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Anika Therapeutics during the third quarter worth $238,000. 91.53% of the stock is owned by institutional investors.

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.