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

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

Separately, Barrington Research cut their price target 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 Stock Performance

NASDAQ ANIK opened at $15.21 on Thursday. The firm’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $19.62. The stock has a market cap of $222.77 million, a PE ratio of -2.29 and a beta of 0.95. Anika Therapeutics has a fifty-two week low of $14.95 and a fifty-two week high of $29.11.

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

Hedge Funds Weigh In On Anika Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new position in Anika Therapeutics in the fourth quarter valued at $231,000. Public Employees Retirement System of Ohio acquired a new position in Anika Therapeutics in the fourth quarter valued at $137,000. Squarepoint Ops LLC acquired a new position in Anika Therapeutics in the fourth quarter valued at $212,000. Stonepine Capital Management LLC lifted its holdings in Anika Therapeutics by 25.8% in the fourth quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company’s stock valued at $3,921,000 after buying an additional 48,914 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Anika Therapeutics in the fourth quarter valued at $1,958,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.