Anika Therapeutics (NASDAQ:ANIK) Stock Rating Upgraded by B. Riley

Anika Therapeutics (NASDAQ:ANIK) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Barrington Research reduced their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, March 13th.

Anika Therapeutics Price Performance

ANIK opened at $14.02 on Wednesday. The business has a 50 day moving average price of $15.87 and a two-hundred day moving average price of $17.72. The company has a market capitalization of $198.75 million, a price-to-earnings ratio of -2.11 and a beta of 0.82. Anika Therapeutics has a 1-year low of $12.83 and a 1-year high of $29.12.

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

Institutional Trading of Anika Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ANIK. Connors Investor Services Inc. boosted its holdings in shares of Anika Therapeutics by 8.0% in the fourth quarter. Connors Investor Services Inc. now owns 11,560 shares of the biotechnology company’s stock worth $190,000 after buying an additional 861 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Anika Therapeutics by 9.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 11,700 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 980 shares in the last quarter. Wellington Management Group LLP boosted its stake in Anika Therapeutics by 3.7% in 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 during the period. HighTower Advisors LLC grew its position in 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 acquired a new stake in Anika Therapeutics during the 4th quarter valued at $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.