Anika Therapeutics (NASDAQ:ANIK) Upgraded by B. Riley to “Strong-Buy” Rating

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

A number of other research firms have also commented on ANIK. StockNews.com raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Barrington Research reduced their target price on 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 Stock Up 4.1 %

Shares of Anika Therapeutics stock opened at $14.02 on Wednesday. The firm has a market cap of $198.75 million, a P/E ratio of -2.11 and a beta of 0.82. Anika Therapeutics has a fifty-two week low of $12.83 and a fifty-two week high of $29.12. The business has a 50-day moving average price of $15.87 and a 200 day moving average price of $17.72.

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

Institutional Investors Weigh In On Anika Therapeutics

Several large investors have recently made changes to their positions in ANIK. R Squared Ltd bought a new position in Anika Therapeutics during the fourth quarter worth $27,000. Aquatic Capital Management LLC bought a new position in Anika Therapeutics during the fourth quarter worth $42,000. Tower Research Capital LLC TRC grew its position in shares of Anika Therapeutics by 412.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company’s stock worth $48,000 after buying an additional 2,326 shares during the period. GAMMA Investing LLC raised its stake in Anika Therapeutics by 4,714.3% during the 1st quarter. GAMMA Investing LLC now owns 6,403 shares of the biotechnology company’s stock worth $96,000 after buying an additional 6,270 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Anika Therapeutics by 31.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 1,759 shares during the last quarter. Institutional investors 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.