Globeflex Capital L P Takes $1.28 Million Position in Anika Therapeutics Inc. $ANIK

Globeflex Capital L P purchased a new stake in Anika Therapeutics Inc. (NASDAQ:ANIK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 87,600 shares of the biotechnology company’s stock, valued at approximately $1,282,000. Globeflex Capital L P owned 0.65% of Anika Therapeutics as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Anika Therapeutics during the 2nd quarter valued at $37,000. Quarry LP bought a new stake in shares of Anika Therapeutics in the 3rd quarter valued at approximately $71,000. CWM LLC grew its position in Anika Therapeutics by 14.5% in the fourth quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock valued at $82,000 after acquiring an additional 1,080 shares during the period. Ieq Capital LLC acquired a new stake in shares of Anika Therapeutics during the 4th quarter worth about $97,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Anika Therapeutics during the third quarter worth approximately $95,000. 91.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ANIK has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. B. Riley Financial increased their target price on Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Barrington Research set a $21.00 target price on Anika Therapeutics in a report on Thursday, July 30th. Wall Street Zen raised shares of Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Zacks Research upgraded Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Anika Therapeutics Price Performance

ANIK stock opened at $21.34 on Tuesday. Anika Therapeutics Inc. has a fifty-two week low of $8.37 and a fifty-two week high of $22.88. The stock has a market capitalization of $285.59 million, a price-to-earnings ratio of -79.03, a PEG ratio of 15.56 and a beta of 0.20. The business’s fifty day moving average price is $17.19 and its two-hundred day moving average price is $15.09.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.39. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%.The business had revenue of $32.61 million for the quarter, compared to the consensus estimate of $29.21 million. Research analysts expect that Anika Therapeutics Inc. will post 0.14 EPS for the current year.

Anika Therapeutics Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.