Eastern Bank Purchases Shares of 1,150 Anika Therapeutics, Inc. (NASDAQ:ANIK)

Eastern Bank purchased a new stake in Anika Therapeutics, Inc. (NASDAQ:ANIK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,150 shares of the biotechnology company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boston Partners acquired a new position in Anika Therapeutics in the 1st quarter valued at approximately $733,000. State Board of Administration of Florida Retirement System acquired a new position in Anika Therapeutics in the 1st quarter valued at approximately $198,000. Meros Investment Management LP increased its position in Anika Therapeutics by 25.0% in the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock valued at $5,388,000 after acquiring an additional 42,587 shares during the period. Stonepine Capital Management LLC increased its position in shares of Anika Therapeutics by 171.4% during the second quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock worth $4,190,000 after buying an additional 104,448 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Anika Therapeutics by 25.8% during the first quarter. Acadian Asset Management LLC now owns 421,427 shares of the biotechnology company’s stock worth $10,701,000 after buying an additional 86,436 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Anika Therapeutics Stock Down 0.8 %

ANIK opened at $24.32 on Friday. Anika Therapeutics, Inc. has a twelve month low of $18.44 and a twelve month high of $29.11. The company has a fifty day moving average of $25.04 and a 200-day moving average of $25.78. The stock has a market cap of $354.76 million, a PE ratio of -4.63 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and set a $37.00 price objective on shares of Anika Therapeutics in a research report on Tuesday, October 22nd.

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.