Gary Fischetti Acquires 1,000 Shares of Anika Therapeutics (NASDAQ:ANIK) Stock

Anika Therapeutics Inc. (NASDAQ:ANIK) Director Gary Fischetti purchased 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average price of $20.75 per share, with a total value of $20,750.00. Following the acquisition, the director directly owned 53,015 shares of the company’s stock, valued at $1,100,061.25. This trade represents a 1.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Anika Therapeutics Price Performance

Shares of Anika Therapeutics stock opened at $20.16 on Friday. Anika Therapeutics Inc. has a 1 year low of $7.92 and a 1 year high of $21.11. The stock has a market cap of $269.80 million, a price-to-earnings ratio of -74.66, a PEG ratio of 13.71 and a beta of 0.20. The firm’s 50-day moving average is $15.56 and its two-hundred day moving average is $14.08.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.39. The firm had revenue of $32.61 million during the quarter, compared to analysts’ expectations of $29.21 million. Anika Therapeutics had a negative net margin of 3.14% and a positive return on equity of 0.20%. On average, equities analysts expect that Anika Therapeutics Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Anika Therapeutics

Large investors have recently modified their holdings of the business. Opaleye Management Inc. lifted its position in Anika Therapeutics by 49.1% during the 2nd quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock worth $6,229,000 after acquiring an additional 193,797 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Anika Therapeutics by 153.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,926 shares of the biotechnology company’s stock valued at $1,585,000 after purchasing an additional 99,951 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Anika Therapeutics by 78.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock worth $1,880,000 after purchasing an additional 85,771 shares during the period. Jane Street Group LLC boosted its position in Anika Therapeutics by 171.0% in the fourth quarter. Jane Street Group LLC now owns 134,768 shares of the biotechnology company’s stock valued at $1,295,000 after buying an additional 85,029 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in Anika Therapeutics by 192.4% in the fourth quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock valued at $1,173,000 after buying an additional 80,319 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. B. Riley Financial boosted their price target on Anika Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Barrington Research set a $21.00 price target on shares of Anika Therapeutics in a research report on Thursday, July 30th. Wall Street Zen upgraded shares of Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.