Anika Therapeutics (ANIK) Raised to Sell at ValuEngine

ValuEngine upgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a strong sell rating to a sell rating in a report issued on Thursday, April 11th, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Singular Research reaffirmed a buy rating on shares of Anika Therapeutics in a report on Thursday, February 28th. TheStreet downgraded shares of Anika Therapeutics from a b- rating to a c rating in a report on Friday, March 29th. Zacks Investment Research downgraded shares of Anika Therapeutics from a strong-buy rating to a hold rating in a report on Thursday, December 27th. BidaskClub downgraded shares of Anika Therapeutics from a buy rating to a hold rating in a report on Friday, March 1st. Finally, Sidoti set a $35.00 price objective on shares of Anika Therapeutics and gave the company a hold rating in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $40.00.

ANIK stock traded up $5.26 during trading on Thursday, reaching $39.22. 512,983 shares of the company were exchanged, compared to its average volume of 167,958. The company has a market cap of $557.20 million, a P/E ratio of 21.32, a P/E/G ratio of 2.61 and a beta of 1.41. Anika Therapeutics has a 52-week low of $28.54 and a 52-week high of $46.43.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. The firm had revenue of $24.72 million for the quarter, compared to the consensus estimate of $22.06 million. Anika Therapeutics had a net margin of 17.74% and a return on equity of 10.54%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. As a group, analysts predict that Anika Therapeutics will post 1.22 earnings per share for the current year.

In related news, CEO Joseph G. Darling purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was purchased at an average price of $33.20 per share, with a total value of $33,200.00. Following the completion of the transaction, the chief executive officer now owns 22,436 shares of the company’s stock, valued at approximately $744,875.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond J. Land sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $33.06, for a total transaction of $132,240.00. Following the transaction, the director now directly owns 18,992 shares of the company’s stock, valued at approximately $627,875.52. The disclosure for this sale can be found here. Corporate insiders own 8.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ANIK. Wells Fargo & Company MN increased its position in shares of Anika Therapeutics by 2.1% in the third quarter. Wells Fargo & Company MN now owns 216,476 shares of the biotechnology company’s stock worth $9,131,000 after acquiring an additional 4,490 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Anika Therapeutics by 613.6% in the third quarter. JPMorgan Chase & Co. now owns 63,529 shares of the biotechnology company’s stock worth $2,680,000 after acquiring an additional 54,626 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Anika Therapeutics in the third quarter worth $324,000. BlackRock Inc. increased its position in shares of Anika Therapeutics by 3.8% in the third quarter. BlackRock Inc. now owns 2,136,362 shares of the biotechnology company’s stock worth $90,112,000 after acquiring an additional 78,532 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Anika Therapeutics by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 997,485 shares of the biotechnology company’s stock valued at $42,074,000 after purchasing an additional 19,916 shares during the period. 86.86% of the stock is owned by institutional investors.

About Anika Therapeutics

Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.

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