Anika Therapeutics Inc. (ANIK) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Anika Therapeutics Inc. (NASDAQ:ANIK) issued its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05, Briefing.com reports. The company had revenue of $27.18 million for the quarter, compared to analysts’ expectations of $27.44 million. Anika Therapeutics had a return on equity of 13.40% and a net margin of 28.23%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share.

Shares of Anika Therapeutics (NASDAQ ANIK) traded down $0.74 during trading hours on Friday, hitting $54.01. The stock had a trading volume of 75,000 shares, compared to its average volume of 102,496. Anika Therapeutics has a 1 year low of $41.64 and a 1 year high of $60.29. The company has a market capitalization of $802.73, a P/E ratio of 25.70, a P/E/G ratio of 2.87 and a beta of 1.47.

In other news, CEO Charles H. Sherwood sold 5,991 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $60.04, for a total value of $359,699.64. Following the transaction, the chief executive officer now owns 158,297 shares of the company’s stock, valued at $9,504,151.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles H. Sherwood sold 7,124 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $60.08, for a total value of $428,009.92. The disclosure for this sale can be found here. In the last three months, insiders sold 38,636 shares of company stock worth $2,320,435. 6.57% of the stock is owned by corporate insiders.

A number of equities research analysts have recently commented on the company. Zacks Investment Research raised Anika Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Barrington Research increased their target price on Anika Therapeutics from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Finally, BidaskClub raised Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th.

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Anika Therapeutics Company Profile

Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.

Earnings History for Anika Therapeutics (NASDAQ:ANIK)

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