First Analysis cut shares of Anika Therapeutics (NASDAQ:ANIK) from an outperform rating to a neutral rating in a research report sent to investors on Friday, February 22nd, MarketBeat.com reports. The firm currently has $37.00 price target on the biotechnology company’s stock, down from their prior price target of $41.00. First Analysis also issued estimates for Anika Therapeutics’ Q1 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.27 EPS and Q4 2019 earnings at $0.29 EPS.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Anika Therapeutics from a hold rating to a strong-buy rating and set a $41.00 price objective on the stock in a report on Monday, October 29th. BidaskClub lowered shares of Anika Therapeutics from a hold rating to a sell rating in a report on Saturday, December 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $40.00.
NASDAQ:ANIK traded down $0.33 on Friday, reaching $29.82. The stock had a trading volume of 74,930 shares, compared to its average volume of 171,718. The firm has a market cap of $426.16 million, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.50 and a beta of 1.42. Anika Therapeutics has a 12-month low of $28.54 and a 12-month high of $52.98.
Anika Therapeutics (NASDAQ:ANIK) last released its earnings results on Thursday, February 21st. The biotechnology company reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.22. The company had revenue of $27.00 million for the quarter, compared to analyst estimates of $26.22 million. Anika Therapeutics had a net margin of 17.74% and a return on equity of 10.54%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities analysts predict that Anika Therapeutics will post 1.22 earnings per share for the current year.
In related news, Director Raymond J. Land sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $33.06, for a total value of $132,240.00. Following the transaction, the director now owns 18,992 shares in the company, valued at $627,875.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph G. Darling purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was acquired at an average price of $33.20 per share, for a total transaction of $33,200.00. Following the acquisition, the chief executive officer now directly owns 22,436 shares of the company’s stock, valued at approximately $744,875.20. The disclosure for this purchase can be found here. Corporate insiders own 8.08% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ANIK. Raymond James & Associates raised its holdings in Anika Therapeutics by 84.1% in the second quarter. Raymond James & Associates now owns 7,658 shares of the biotechnology company’s stock valued at $245,000 after buying an additional 3,498 shares during the period. Millennium Management LLC grew its position in Anika Therapeutics by 47.0% in the second quarter. Millennium Management LLC now owns 63,835 shares of the biotechnology company’s stock valued at $2,043,000 after acquiring an additional 20,420 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Anika Therapeutics by 134.5% in the third quarter. Nisa Investment Advisors LLC now owns 4,010 shares of the biotechnology company’s stock valued at $169,000 after acquiring an additional 2,300 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in Anika Therapeutics in the third quarter valued at approximately $1,808,000. Finally, Russell Investments Group Ltd. grew its position in Anika Therapeutics by 40.0% in the third quarter. Russell Investments Group Ltd. now owns 55,470 shares of the biotechnology company’s stock valued at $2,340,000 after acquiring an additional 15,853 shares in the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.
About Anika Therapeutics
Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.
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