Research Analysts Offer Predictions for Anika Therapeutics Inc.’s Q2 2017 Earnings (ANIK)
Anika Therapeutics Inc. (NASDAQ:ANIK) – Research analysts at First Analysis cut their Q2 2017 earnings estimates for shares of Anika Therapeutics in a note issued to investors on Friday. First Analysis analyst now forecasts that the biotechnology company will post earnings of $0.42 per share for the quarter, down from their prior estimate of $0.50. First Analysis also issued estimates for Anika Therapeutics’ Q3 2017 earnings at $0.39 EPS, Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $1.79 EPS and Q1 2018 earnings at $0.36 EPS.
Separately, Zacks Investment Research cut shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, May 8th.
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Anika Therapeutics (ANIK) opened at 49.55 on Monday. The firm has a 50-day moving average of $47.03 and a 200-day moving average of $47.10. Anika Therapeutics has a 1-year low of $41.38 and a 1-year high of $53.85. The stock has a market cap of $726.11 million, a PE ratio of 23.91 and a beta of 1.69.
Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. Anika Therapeutics had a return on equity of 14.29% and a net margin of 29.81%. The company had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $23.89 million. During the same period in the prior year, the firm earned $0.45 EPS. Anika Therapeutics’s quarterly revenue was up 5.0% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank raised its position in Anika Therapeutics by 4.9% in the fourth quarter. Comerica Bank now owns 15,834 shares of the biotechnology company’s stock worth $792,000 after buying an additional 739 shares during the period. State Street Corp raised its position in Anika Therapeutics by 3.2% in the fourth quarter. State Street Corp now owns 316,791 shares of the biotechnology company’s stock worth $15,507,000 after buying an additional 9,917 shares during the period. FMR LLC acquired a new position in Anika Therapeutics during the fourth quarter worth $1,772,000. Allianz Asset Management AG raised its position in Anika Therapeutics by 7.0% in the fourth quarter. Allianz Asset Management AG now owns 38,117 shares of the biotechnology company’s stock worth $1,867,000 after buying an additional 2,489 shares during the period. Finally, A.R.T. Advisors LLC acquired a new position in Anika Therapeutics during the fourth quarter worth $460,000. 80.90% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Charles H. Sherwood sold 14,201 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $50.03, for a total value of $710,476.03. Following the completion of the transaction, the chief executive officer now directly owns 246,740 shares of the company’s stock, valued at $12,344,402.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffery S. Thompson sold 10,725 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $47.39, for a total transaction of $508,257.75. Following the completion of the transaction, the director now directly owns 15,845 shares of the company’s stock, valued at $750,894.55. The disclosure for this sale can be found here. Company insiders own 6.57% of the company’s stock.
About Anika Therapeutics
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
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