Anika Therapeutics Inc. (NASDAQ:ANIK)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $59.43 and last traded at $59.43, with a volume of 61,869 shares trading hands. The stock had previously closed at $58.81.

A number of equities analysts have recently commented on ANIK shares. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Anika Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.

The stock has a 50-day moving average price of $55.29 and a 200 day moving average price of $48.90. The company has a market cap of $857.93 million, a price-to-earnings ratio of 26.00 and a beta of 1.66.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, July 26th. The biotechnology company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.32. The firm had revenue of $33.50 million for the quarter, compared to analysts’ expectations of $27.20 million. Anika Therapeutics had a return on equity of 14.88% and a net margin of 30.44%. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. On average, equities research analysts expect that Anika Therapeutics Inc. will post $2.20 EPS for the current fiscal year.

In related news, CEO Charles H. Sherwood sold 63,799 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.79, for a total value of $3,240,351.21. Following the transaction, the chief executive officer now owns 174,705 shares in the company, valued at $8,873,266.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.57% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Atria Investments LLC increased its position in shares of Anika Therapeutics by 1.2% in the second quarter. Atria Investments LLC now owns 5,631 shares of the biotechnology company’s stock worth $278,000 after purchasing an additional 68 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Anika Therapeutics by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the biotechnology company’s stock worth $554,000 after purchasing an additional 89 shares during the period. Rhumbline Advisers increased its position in shares of Anika Therapeutics by 0.3% in the second quarter. Rhumbline Advisers now owns 27,720 shares of the biotechnology company’s stock worth $1,368,000 after purchasing an additional 96 shares during the period. Arizona State Retirement System increased its position in shares of Anika Therapeutics by 1.3% in the first quarter. Arizona State Retirement System now owns 7,590 shares of the biotechnology company’s stock worth $330,000 after purchasing an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Anika Therapeutics by 3.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,450 shares of the biotechnology company’s stock worth $170,000 after purchasing an additional 100 shares during the period. Institutional investors own 84.47% of the company’s stock.

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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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