Anika Therapeutics (NASDAQ:ANIK) Shares Cross Above 200 Day Moving Average of $37.38


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Anika Therapeutics, Inc. (NASDAQ:ANIK) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.38 and traded as high as $40.39. Anika Therapeutics shares last traded at $39.98, with a volume of 135,100 shares changing hands.

A number of research analysts have recently commented on the company. Barrington Research upgraded Anika Therapeutics from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Wednesday, December 16th. Zacks Investment Research lowered Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, November 5th. ValuEngine raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, October 1st. Finally, BidaskClub raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, December 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.00.

The firm has a market capitalization of $568.32 million, a P/E ratio of -85.06 and a beta of 1.10. The company has a current ratio of 6.48, a quick ratio of 4.95 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $41.10 and a 200-day moving average of $37.38.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Monday, November 9th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.44). Anika Therapeutics had a positive return on equity of 2.63% and a negative net margin of 5.18%. The business had revenue of $31.69 million for the quarter, compared to analyst estimates of $32.22 million. Research analysts predict that Anika Therapeutics, Inc. will post 0.7 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Matarin Capital Management LLC acquired a new stake in Anika Therapeutics during the 3rd quarter worth about $411,000. Schonfeld Strategic Advisors LLC acquired a new stake in Anika Therapeutics during the 3rd quarter worth about $350,000. ExodusPoint Capital Management LP acquired a new stake in Anika Therapeutics during the 3rd quarter worth about $284,000. Parian Global Management LP acquired a new stake in Anika Therapeutics during the 3rd quarter worth about $754,000. Finally, Morgan Stanley grew its holdings in Anika Therapeutics by 101.8% during the 3rd quarter. Morgan Stanley now owns 117,676 shares of the biotechnology company’s stock worth $4,165,000 after acquiring an additional 59,349 shares during the period. Hedge funds and other institutional investors own 95.01% of the company’s stock.

About Anika Therapeutics (NASDAQ:ANIK)

Anika Therapeutics, Inc, together with its subsidiaries, operates as an integrated joint preservation, restoration, and regenerative solutions company in the United States, Europe, and internationally. The company's lead products include HYALOMATRIX for the treatment of skin wounds, such as pressure ulcers, diabetic foot ulcers, and deep second-degree burns; and MEROGEL, a woven fleece nasal packing.

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