Zacks Investment Research lowered shares of Anika Therapeutics (NASDAQ:ANIK) from a buy rating to a hold rating in a research note issued to investors on Friday morning.
According to Zacks, “Anika Therapeutics, Inc. is a global, integrated orthopedic medicines company based in Bedford, Massachusetts. Anika is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along the continuum of care, from palliative pain management to regenerative cartilage repair. Anika’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. “
Several other research analysts have also recently weighed in on the company. Barrington Research upgraded Anika Therapeutics from a market perform rating to an outperform rating and set a $48.00 target price on the stock in a report on Friday, July 27th. BidaskClub upgraded Anika Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, July 4th. ValuEngine upgraded Anika Therapeutics from a sell rating to a hold rating in a report on Tuesday, July 3rd. First Analysis cut Anika Therapeutics from an overweight rating to an equal weight rating and decreased their price objective for the company from $45.00 to $34.00 in a report on Wednesday, June 20th. Finally, TheStreet cut Anika Therapeutics from a b- rating to a c rating in a report on Wednesday, May 2nd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Anika Therapeutics presently has a consensus rating of Buy and an average target price of $42.67.
Shares of Anika Therapeutics stock opened at $42.11 on Friday. The company has a market cap of $603.76 million, a PE ratio of 21.48, a P/E/G ratio of 2.67 and a beta of 1.86. Anika Therapeutics has a 1-year low of $28.54 and a 1-year high of $69.81.
Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, July 25th. The biotechnology company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.39. The business had revenue of $30.55 million for the quarter, compared to analysts’ expectations of $27.47 million. Anika Therapeutics had a return on equity of 9.53% and a net margin of 16.94%. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. research analysts predict that Anika Therapeutics will post 1.55 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FDx Advisors Inc. lifted its holdings in Anika Therapeutics by 18.0% in the second quarter. FDx Advisors Inc. now owns 8,205 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 1,253 shares during the last quarter. Isthmus Partners LLC lifted its holdings in Anika Therapeutics by 8.4% in the second quarter. Isthmus Partners LLC now owns 18,332 shares of the biotechnology company’s stock valued at $587,000 after acquiring an additional 1,427 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Anika Therapeutics by 81.6% in the second quarter. PNC Financial Services Group Inc. now owns 3,264 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 1,467 shares during the last quarter. Legal & General Group Plc lifted its holdings in Anika Therapeutics by 6.5% in the second quarter. Legal & General Group Plc now owns 29,039 shares of the biotechnology company’s stock valued at $922,000 after acquiring an additional 1,762 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Anika Therapeutics by 5.8% in the second quarter. Rhumbline Advisers now owns 35,848 shares of the biotechnology company’s stock valued at $1,147,000 after acquiring an additional 1,972 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
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.
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