Barrington Research Reaffirms Outperform Rating for Anika Therapeutics (NASDAQ:ANIK)

Anika Therapeutics (NASDAQ:ANIK)‘s stock had its “outperform” rating reaffirmed by Barrington Research in a report issued on Thursday, Benzinga reports. They currently have a $37.00 target price on the biotechnology company’s stock. Barrington Research’s target price indicates a potential upside of 45.04% from the company’s previous close.

A number of other equities analysts have also recently issued reports on ANIK. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Stephens reissued an “equal weight” rating and set a $22.00 price target on shares of Anika Therapeutics in a research report on Thursday, March 14th.

Anika Therapeutics Stock Down 10.4 %

Shares of NASDAQ:ANIK traded down $2.96 during midday trading on Thursday, reaching $25.51. The company’s stock had a trading volume of 62,726 shares, compared to its average volume of 76,836. Anika Therapeutics has a 12-month low of $16.54 and a 12-month high of $28.67. The firm has a market capitalization of $378.26 million, a P/E ratio of -4.56, a PEG ratio of 2.46 and a beta of 0.74. The firm has a 50 day moving average of $25.83 and a 200-day moving average of $23.54.

Anika Therapeutics (NASDAQ:ANIK) last released its earnings results on Wednesday, March 13th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.20. Anika Therapeutics had a negative net margin of 49.60% and a negative return on equity of 2.10%. The firm had revenue of $42.97 million during the quarter, compared to analyst estimates of $41.51 million. On average, research analysts predict that Anika Therapeutics will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Anika Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Anika Therapeutics by 7.8% in the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 627 shares during the period. Swiss National Bank lifted its position in Anika Therapeutics by 3.2% during the third quarter. Swiss National Bank now owns 32,500 shares of the biotechnology company’s stock valued at $605,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Anika Therapeutics by 168.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock worth $70,000 after buying an additional 1,947 shares in the last quarter. Barclays PLC raised its stake in shares of Anika Therapeutics by 9.0% in the third quarter. Barclays PLC now owns 26,765 shares of the biotechnology company’s stock worth $499,000 after buying an additional 2,209 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Anika Therapeutics by 216.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 2,320 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other 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.