Zacks: Analysts Set $57.00 Price Target for Anika Therapeutics Inc. (ANIK)
Anika Therapeutics Inc. (NASDAQ:ANIK) has received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a 1-year consensus target price of $57.00 for the company and are anticipating that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given Anika Therapeutics an industry rank of 115 out of 265 based on the ratings given to related companies.
A number of research firms recently weighed in on ANIK. Zacks Investment Research raised shares of Anika Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Barrington Research upped their target price on shares of Anika Therapeutics from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, October 27th.
In other Anika Therapeutics news, CEO Charles H. Sherwood sold 3,293 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $60.04, for a total value of $197,711.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles H. Sherwood sold 22,228 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.06, for a total transaction of $1,335,013.68. Following the completion of the transaction, the chief executive officer now directly owns 158,297 shares of the company’s stock, valued at approximately $9,507,317.82. The disclosure for this sale can be found here. Insiders have sold a total of 38,636 shares of company stock worth $2,320,435 in the last ninety days. 6.57% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ANIK. Kayne Anderson Rudnick Investment Management LLC grew its stake in Anika Therapeutics by 16.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,656,918 shares of the biotechnology company’s stock worth $96,101,000 after buying an additional 233,325 shares in the last quarter. Thomson Horstmann & Bryant Inc. purchased a new position in Anika Therapeutics in the 2nd quarter worth approximately $11,345,000. Bank of New York Mellon Corp grew its stake in Anika Therapeutics by 76.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,433 shares of the biotechnology company’s stock worth $24,199,000 after buying an additional 213,055 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Anika Therapeutics by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 878,006 shares of the biotechnology company’s stock worth $43,321,000 after buying an additional 106,307 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Anika Therapeutics by 51.7% in the 1st quarter. Renaissance Technologies LLC now owns 253,100 shares of the biotechnology company’s stock worth $10,995,000 after buying an additional 86,300 shares in the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.
Anika Therapeutics (NASDAQ:ANIK) traded down $0.74 during trading on Monday, reaching $54.01. 75,000 shares of the company were exchanged, compared to its average volume of 102,496. The company has a market cap of $802.73, a price-to-earnings ratio of 25.70, a PEG ratio of 2.87 and a beta of 1.47. Anika Therapeutics has a twelve month low of $41.64 and a twelve month high of $60.29.
Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The business had revenue of $27.18 million for the quarter, compared to analyst estimates of $27.44 million. Anika Therapeutics had a net margin of 28.23% and a return on equity of 13.40%. Anika Therapeutics’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. analysts forecast that Anika Therapeutics will post 1.9 EPS for the current year.
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Anika Therapeutics Company Profile
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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