Brokerages Expect Anika Therapeutics Inc (NASDAQ:ANIK) Will Announce Earnings of $0.41 Per Share

Brokerages predict that Anika Therapeutics Inc (NASDAQ:ANIK) will announce earnings per share of $0.41 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Anika Therapeutics’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.39. Anika Therapeutics posted earnings per share of $0.53 during the same quarter last year, which suggests a negative year over year growth rate of 22.6%. The business is scheduled to report its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Anika Therapeutics will report full-year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.78. For the next year, analysts forecast that the business will report earnings of $1.36 per share, with EPS estimates ranging from $1.25 to $1.46. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Anika Therapeutics.

Anika Therapeutics (NASDAQ:ANIK) last released its earnings results on Wednesday, July 24th. The biotechnology company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.25. Anika Therapeutics had a net margin of 26.87% and a return on equity of 11.27%. The firm had revenue of $30.42 million for the quarter, compared to analyst estimates of $27.41 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year.

ANIK has been the topic of a number of recent research reports. ValuEngine upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. BidaskClub lowered shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Zacks Investment Research lowered shares of Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. First Analysis upgraded shares of Anika Therapeutics from a “neutral” rating to a “strong-buy” rating and upped their target price for the stock from $37.00 to $54.00 in a research note on Thursday, July 25th. Finally, Barrington Research restated a “buy” rating and set a $49.00 target price (up from $45.00) on shares of Anika Therapeutics in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $46.00.

In other Anika Therapeutics news, Director Raymond J. Land sold 3,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $55.44, for a total value of $166,320.00. Following the transaction, the director now directly owns 11,992 shares in the company, valued at $664,836.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.67% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ANIK. Texas Permanent School Fund boosted its stake in shares of Anika Therapeutics by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 9,649 shares of the biotechnology company’s stock worth $292,000 after acquiring an additional 349 shares in the last quarter. Rhumbline Advisers boosted its stake in Anika Therapeutics by 0.9% during the 1st quarter. Rhumbline Advisers now owns 42,538 shares of the biotechnology company’s stock valued at $1,286,000 after purchasing an additional 366 shares during the period. HL Financial Services LLC boosted its stake in Anika Therapeutics by 7.3% during the 1st quarter. HL Financial Services LLC now owns 6,988 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 475 shares during the period. Creative Planning boosted its stake in Anika Therapeutics by 9.3% during the 1st quarter. Creative Planning now owns 15,198 shares of the biotechnology company’s stock valued at $460,000 after purchasing an additional 1,290 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in Anika Therapeutics by 356.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,891 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 2,257 shares during the period. Institutional investors own 93.93% of the company’s stock.

Shares of ANIK stock traded down $0.29 during trading hours on Thursday, reaching $54.80. 347,530 shares of the stock were exchanged, compared to its average volume of 182,388. The stock has a fifty day moving average price of $42.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 18.28 and a quick ratio of 16.07. Anika Therapeutics has a 12-month low of $29.01 and a 12-month high of $57.51. The stock has a market cap of $755.31 million, a price-to-earnings ratio of 29.78, a P/E/G ratio of 3.10 and a beta of 1.08.

Anika Therapeutics Company Profile

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.

Recommended Story: What is a management fee?

Get a free copy of the Zacks research report on Anika Therapeutics (ANIK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Anika Therapeutics (NASDAQ:ANIK)

Receive News & Ratings for Anika Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anika Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.