Anika Therapeutics (NASDAQ:ANIK) Director John Henneman III Purchases 5,000 Shares of Stock

Anika Therapeutics Inc. (NASDAQ:ANIK) Director John Henneman III acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $14.66 per share, for a total transaction of $73,300.00. Following the transaction, the director owned 54,871 shares of the company’s stock, valued at $804,408.86. This trade represents a 10.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Anika Therapeutics Trading Down 2.0%

Shares of ANIK stock opened at $14.55 on Tuesday. Anika Therapeutics Inc. has a 12-month low of $7.87 and a 12-month high of $16.24. The stock has a market capitalization of $193.66 million, a P/E ratio of -18.42 and a beta of 0.16. The firm’s 50 day moving average is $14.31 and its 200 day moving average is $11.32.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.34. The business had revenue of $29.61 million during the quarter, compared to analyst estimates of $28.14 million. Anika Therapeutics had a negative net margin of 9.52% and a negative return on equity of 5.90%. As a group, equities analysts predict that Anika Therapeutics Inc. will post -0.61 earnings per share for the current year.

Institutional Trading of Anika Therapeutics

Hedge funds have recently bought and sold shares of the stock. CWM LLC increased its holdings in shares of Anika Therapeutics by 14.5% in the fourth quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 1,080 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Anika Therapeutics by 4.3% during the fourth quarter. Corient Private Wealth LLC now owns 32,224 shares of the biotechnology company’s stock valued at $310,000 after buying an additional 1,324 shares during the last quarter. Diker Management LLC boosted its stake in Anika Therapeutics by 2.4% during the fourth quarter. Diker Management LLC now owns 58,210 shares of the biotechnology company’s stock valued at $559,000 after buying an additional 1,371 shares during the last quarter. Man Group plc grew its holdings in Anika Therapeutics by 11.4% during the 3rd quarter. Man Group plc now owns 14,778 shares of the biotechnology company’s stock valued at $139,000 after buying an additional 1,510 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Anika Therapeutics by 5.2% during the 4th quarter. Cerity Partners LLC now owns 31,775 shares of the biotechnology company’s stock valued at $305,000 after buying an additional 1,575 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

ANIK has been the subject of a number of recent research reports. Barrington Research boosted their price target on Anika Therapeutics from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Wall Street Zen cut shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.