Anika Therapeutics (NASDAQ:ANIK) Stock Rating Upgraded by StockNews.com

Anika Therapeutics (NASDAQ:ANIK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Separately, Barrington Research lowered their price objective on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday.

Anika Therapeutics Stock Performance

NASDAQ ANIK opened at $15.91 on Thursday. Anika Therapeutics has a one year low of $14.95 and a one year high of $29.11. The company’s 50 day moving average price is $16.90 and its 200 day moving average price is $19.55. The firm has a market capitalization of $233.02 million, a price-to-earnings ratio of -2.39 and a beta of 0.95.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. The business had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $29.00 million. Sell-side analysts forecast that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Trading of Anika Therapeutics

Several large investors have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in Anika Therapeutics in the fourth quarter valued at approximately $231,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Anika Therapeutics during the fourth quarter worth approximately $137,000. Squarepoint Ops LLC acquired a new stake in shares of Anika Therapeutics during the fourth quarter worth approximately $212,000. Stonepine Capital Management LLC grew its position in shares of Anika Therapeutics by 25.8% during the fourth quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company’s stock worth $3,921,000 after buying an additional 48,914 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Anika Therapeutics during the fourth quarter worth approximately $1,958,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Anika Therapeutics

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.