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A number of other equities research analysts have also weighed in on the company. TheStreet raised Anika Therapeutics from a c rating to a b- rating in a report on Friday, July 26th. Zacks Investment Research raised Anika Therapeutics from a hold rating to a strong-buy rating and set a $61.00 price objective on the stock in a report on Thursday, September 26th. Sidoti set a $50.00 price objective on Anika Therapeutics and gave the company a hold rating in a report on Friday, October 25th. BWS Financial began coverage on Anika Therapeutics in a report on Tuesday, November 5th. They issued a sell rating and a $29.00 price objective on the stock. Finally, ValuEngine lowered Anika Therapeutics from a buy rating to a hold rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $50.40.
Shares of ANIK stock traded up $0.24 on Friday, reaching $60.01. 87,200 shares of the company’s stock were exchanged, compared to its average volume of 236,801. The company’s fifty day simple moving average is $60.38 and its 200 day simple moving average is $49.48. The stock has a market capitalization of $852.88 million, a PE ratio of 32.61, a P/E/G ratio of 2.94 and a beta of 1.07. Anika Therapeutics has a 52 week low of $29.01 and a 52 week high of $75.71. The company has a current ratio of 19.99, a quick ratio of 17.74 and a debt-to-equity ratio of 0.08.
Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Thursday, October 24th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.25. Anika Therapeutics had a return on equity of 11.59% and a net margin of 27.60%. The company had revenue of $29.70 million for the quarter, compared to analyst estimates of $27.01 million. During the same quarter last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts predict that Anika Therapeutics will post 2.03 earnings per share for the current fiscal year.
In other Anika Therapeutics news, Director Joseph L. Bower sold 1,994 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $55.57, for a total value of $110,806.58. Following the completion of the transaction, the director now directly owns 43,010 shares in the company, valued at approximately $2,390,065.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sylvia Cheung sold 20,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $59.71, for a total transaction of $1,194,200.00. Following the sale, the chief financial officer now directly owns 71,422 shares of the company’s stock, valued at $4,264,607.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,349 shares of company stock valued at $1,554,156. Insiders own 3.67% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ANIK. WINTON GROUP Ltd purchased a new stake in shares of Anika Therapeutics during the 2nd quarter valued at $332,000. Louisiana State Employees Retirement System purchased a new stake in Anika Therapeutics during the 2nd quarter worth $212,000. Eqis Capital Management Inc. purchased a new stake in Anika Therapeutics during the 2nd quarter worth $415,000. BTIM Corp. boosted its position in Anika Therapeutics by 40.9% during the 2nd quarter. BTIM Corp. now owns 371,190 shares of the biotechnology company’s stock worth $15,077,000 after purchasing an additional 107,675 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Anika Therapeutics by 16.2% during the 2nd quarter. Fisher Asset Management LLC now owns 80,390 shares of the biotechnology company’s stock worth $3,265,000 after purchasing an additional 11,187 shares during the period. 99.95% of the stock is owned by institutional investors.
About Anika Therapeutics
Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.
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