Anika Therapeutics (NASDAQ:ANIK) Given Outperform Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Anika Therapeutics (NASDAQ:ANIK) in a report issued on Tuesday, Benzinga reports. The brokerage currently has a $37.00 price target on the biotechnology company’s stock.

Anika Therapeutics Price Performance

NASDAQ:ANIK opened at $24.70 on Tuesday. The firm has a market capitalization of $360.30 million, a price-to-earnings ratio of -4.70 and a beta of 0.83. Anika Therapeutics has a 1 year low of $18.08 and a 1 year high of $29.11. The business has a 50 day simple moving average of $25.10 and a 200-day simple moving average of $25.80.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.24). Anika Therapeutics had a positive return on equity of 0.94% and a negative net margin of 44.45%. The business had revenue of $41.92 million for the quarter, compared to the consensus estimate of $39.90 million. During the same period in the prior year, the business posted ($0.06) earnings per share. As a group, analysts expect that Anika Therapeutics will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ANIK. SG Americas Securities LLC increased its holdings in shares of Anika Therapeutics by 7.8% in the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 627 shares during the period. Eastern Bank acquired a new stake in shares of Anika Therapeutics in the 3rd quarter worth $28,000. Massachusetts Financial Services Co. MA boosted its position in shares of Anika Therapeutics by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 47,691 shares of the biotechnology company’s stock worth $1,208,000 after purchasing an additional 1,601 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Anika Therapeutics by 11.8% in the 2nd quarter. American Century Companies Inc. now owns 23,892 shares of the biotechnology company’s stock worth $605,000 after purchasing an additional 2,518 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Anika Therapeutics by 16.9% in the 1st quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company’s stock worth $565,000 after purchasing an additional 3,217 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Company Profile

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.