Barrington Research Lowers Anika Therapeutics (NASDAQ:ANIK) Price Target to $20.00

Anika Therapeutics (NASDAQ:ANIK) had its target price lowered by analysts at Barrington Research from $25.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price target indicates a potential upside of 25.71% from the stock’s previous close.

Anika Therapeutics Trading Up 4.6 %

Shares of ANIK opened at $15.91 on Thursday. Anika Therapeutics has a 1 year low of $14.95 and a 1 year high of $29.11. The stock has a market cap of $233.02 million, a P/E ratio of -2.39 and a beta of 0.95. The stock’s 50-day moving average price is $16.90 and its two-hundred day moving average price is $19.55.

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

Hedge Funds Weigh In On Anika Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alta Fundamental Advisers LLC grew its position in shares of Anika Therapeutics by 136.6% in the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company’s stock valued at $11,529,000 after purchasing an additional 404,350 shares during the period. Boothbay Fund Management LLC grew its position in shares of Anika Therapeutics by 5.1% in the 4th quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company’s stock valued at $8,716,000 after purchasing an additional 25,665 shares during the period. Capital Management Corp VA grew its position in shares of Anika Therapeutics by 12.1% in the 4th quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company’s stock valued at $5,358,000 after purchasing an additional 35,195 shares during the period. Stonepine Capital Management LLC grew its position in shares of Anika Therapeutics by 25.8% in the 4th quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company’s stock valued at $3,921,000 after purchasing an additional 48,914 shares during the period. Finally, Meros Investment Management LP grew its position in shares of Anika Therapeutics by 11.6% in the 3rd quarter. Meros Investment Management LP now owns 237,295 shares of the biotechnology company’s stock valued at $5,861,000 after purchasing an additional 24,581 shares during the period. Institutional investors 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.