Anika Therapeutics (NASDAQ:ANIK) Announces Earnings Results

Anika Therapeutics (NASDAQ:ANIK) released its earnings results on Wednesday. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.19), Zacks reports. Anika Therapeutics had a negative net margin of 48.99% and a negative return on equity of 10.97%.

Anika Therapeutics Price Performance

Shares of Anika Therapeutics stock traded up $0.21 during midday trading on Wednesday, reaching $9.84. The company had a trading volume of 243,268 shares, compared to its average volume of 92,032. The stock has a fifty day moving average price of $9.21 and a 200 day moving average price of $10.50. The firm has a market cap of $141.87 million, a PE ratio of -2.37 and a beta of 0.61. Anika Therapeutics has a fifty-two week low of $7.87 and a fifty-two week high of $18.37.

Wall Street Analysts Forecast Growth

ANIK has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a research report on Thursday, October 30th. Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of Anika Therapeutics in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Hedge Funds Weigh In On Anika Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. lifted its stake in shares of Anika Therapeutics by 49.1% in the second 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. Man Group plc acquired a new position in Anika Therapeutics in the second quarter valued at approximately $140,000. Gallagher Fiduciary Advisors LLC lifted its stake in Anika Therapeutics by 21.5% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 13,347 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 2,361 shares during the period. Bridgeway Capital Management LLC acquired a new position in Anika Therapeutics in the second quarter valued at approximately $185,000. Finally, Ameriprise Financial Inc. lifted its stake in Anika Therapeutics by 4.6% in the second quarter. Ameriprise Financial Inc. now owns 41,362 shares of the biotechnology company’s stock valued at $438,000 after buying an additional 1,820 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

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.