B. Riley Begins Coverage on Anika Therapeutics (NASDAQ:ANIK)

B. Riley started coverage on shares of Anika Therapeutics (NASDAQ:ANIK) in a research report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $21.00 target price on the biotechnology company’s stock.

A number of other research analysts have also issued reports on the company. StockNews.com upgraded Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Barrington Research reduced their price target 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 Stock Performance

Shares of NASDAQ:ANIK opened at $14.02 on Thursday. The company’s fifty day moving average is $15.87 and its two-hundred day moving average is $17.72. Anika Therapeutics has a 1-year low of $12.83 and a 1-year high of $29.12. The stock has a market capitalization of $198.75 million, a price-to-earnings ratio of -2.11 and a beta of 0.82.

Anika Therapeutics (NASDAQ:ANIK) last released 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). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The business had revenue of $30.60 million for the quarter, compared to analyst estimates of $29.00 million. Sell-side analysts expect that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Anika Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Anika Therapeutics by 25.3% in the third quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock worth $611,000 after purchasing an additional 4,996 shares in the last quarter. HighTower Advisors LLC grew its position in Anika Therapeutics by 11.3% in the 3rd quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock valued at $387,000 after buying an additional 1,615 shares in the last quarter. Jane Street Group LLC increased its stake in Anika Therapeutics by 54.1% during the 3rd quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 8,550 shares during the period. Barclays PLC raised its position in shares of Anika Therapeutics by 66.6% during the 3rd quarter. Barclays PLC now owns 32,664 shares of the biotechnology company’s stock worth $806,000 after buying an additional 13,054 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Anika Therapeutics in the 4th quarter worth approximately $27,000. 91.53% of the stock is owned by institutional investors.

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.