Barrington Research Lowers Anika Therapeutics (NASDAQ:ANIK) Price Target to $25.00

Anika Therapeutics (NASDAQ:ANIK) had its price objective decreased by investment analysts at Barrington Research from $37.00 to $25.00 in a report released on Friday, Briefing.com reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price objective suggests a potential upside of 49.25% from the stock’s previous close.

Anika Therapeutics Stock Down 2.1 %

Shares of ANIK stock traded down $0.36 on Friday, reaching $16.75. The company’s stock had a trading volume of 30,639 shares, compared to its average volume of 63,740. The company has a market capitalization of $247.90 million, a P/E ratio of -3.28 and a beta of 0.83. Anika Therapeutics has a 12-month low of $16.00 and a 12-month high of $29.11. The stock’s 50 day simple moving average is $24.80 and its 200-day simple moving average is $25.70.

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

Institutional Investors Weigh In On Anika Therapeutics

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake 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 valued at $565,000 after purchasing an additional 3,217 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Anika Therapeutics by 7.8% during the first quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after buying an additional 627 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Anika Therapeutics in the first quarter worth about $198,000. Vanguard Group Inc. lifted its stake in shares of Anika Therapeutics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock valued at $19,652,000 after acquiring an additional 9,657 shares during the last quarter. Finally, Capital Management Corp VA grew its position in Anika Therapeutics by 2.4% during the 1st quarter. Capital Management Corp VA now owns 364,025 shares of the biotechnology company’s stock worth $9,246,000 after acquiring an additional 8,491 shares during the last quarter. Hedge funds and other 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.