Wall Street brokerages forecast that Anika Therapeutics Inc (NASDAQ:ANIK) will post $28.51 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Anika Therapeutics’ earnings, with estimates ranging from $28.01 million to $29.01 million. Anika Therapeutics posted sales of $30.55 million in the same quarter last year, which would indicate a negative year over year growth rate of 6.7%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, July 24th.
On average, analysts expect that Anika Therapeutics will report full-year sales of $101.70 million for the current financial year, with estimates ranging from $101.56 million to $101.84 million. For the next fiscal year, analysts anticipate that the firm will post sales of $105.27 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Anika Therapeutics.
Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.10. Anika Therapeutics had a return on equity of 11.57% and a net margin of 27.44%. The business had revenue of $24.72 million for the quarter, compared to the consensus estimate of $22.06 million. During the same quarter in the previous year, the business earned ($0.46) EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year.
Several research analysts have issued reports on ANIK shares. TheStreet lowered shares of 22nd Century Group from a “c-” rating to a “d+” rating in a report on Friday, March 29th. Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Tuesday. BidaskClub downgraded Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $40.25.
Hedge funds have recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of Anika Therapeutics during the 1st quarter valued at about $69,000. Massmutual Trust Co. FSB ADV bought a new position in shares of Anika Therapeutics in the 4th quarter worth $76,000. BNP Paribas Arbitrage SA raised its position in shares of Anika Therapeutics by 356.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,891 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 2,257 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Anika Therapeutics during the 4th quarter valued at about $140,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Anika Therapeutics by 382.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,141 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 4,075 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.
ANIK traded up $0.10 on Friday, hitting $40.87. 99,147 shares of the company’s stock were exchanged, compared to its average volume of 165,262. The firm has a market capitalization of $573.11 million, a price-to-earnings ratio of 22.21, a PEG ratio of 3.09 and a beta of 1.08. Anika Therapeutics has a twelve month low of $29.01 and a twelve month high of $44.95. The company’s fifty day simple moving average is $39.99. The company has a current ratio of 18.07, a quick ratio of 16.12 and a debt-to-equity ratio of 0.08.
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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