Anika Therapeutics (NASDAQ:ANIK) Price Target Cut to $20.00 by Analysts at Barrington Research

Anika Therapeutics (NASDAQ:ANIK) had its price objective reduced by research analysts at Barrington Research from $25.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price objective points to a potential upside of 25.71% from the company’s current price.

Anika Therapeutics Stock Up 4.6 %

NASDAQ:ANIK opened at $15.91 on Thursday. Anika Therapeutics has a twelve month low of $14.95 and a twelve month high of $29.11. The business has a 50 day moving average price of $16.90 and a two-hundred day moving average price of $19.55. The company has a market cap of $233.02 million, a P/E ratio of -2.39 and a beta of 0.95.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $30.60 million for the quarter, compared to analyst estimates of $29.00 million. As a group, analysts anticipate that Anika Therapeutics will post -0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anika Therapeutics

A number of large investors have recently bought and sold shares of the company. Connors Investor Services Inc. boosted its position in Anika Therapeutics by 8.0% during the 4th quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company’s stock worth $190,000 after acquiring an additional 861 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Anika Therapeutics by 9.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 11,700 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 980 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Anika Therapeutics by 3.7% during the 4th quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company’s stock worth $655,000 after purchasing an additional 1,407 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Anika Therapeutics by 11.3% during the 3rd quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock worth $387,000 after purchasing an additional 1,615 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Anika Therapeutics during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.