Anika Therapeutics (NASDAQ:ANIK) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Anika Therapeutics (NASDAQ:ANIK) from a buy rating to a hold rating in a research note published on Monday.

Separately, Barrington Research lowered their price target on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday.

Anika Therapeutics Stock Performance

Anika Therapeutics stock opened at $17.07 on Monday. The company has a market capitalization of $252.58 million, a PE ratio of -2.57 and a beta of 0.86. The company has a 50 day moving average price of $24.45 and a 200-day moving average price of $25.58. Anika Therapeutics has a fifty-two week low of $16.00 and a fifty-two week high of $29.11.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.24). The business had revenue of $41.92 million for the quarter, compared to the consensus estimate of $39.90 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. During the same quarter in the previous year, the company earned ($0.06) earnings per share. On average, analysts forecast that Anika Therapeutics will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Anika Therapeutics

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

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.