Alps Advisors Inc. Takes $487,000 Position in Anika Therapeutics Inc. (NASDAQ:ANIK)

Alps Advisors Inc. purchased a new position in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,398 shares of the biotechnology company’s stock, valued at approximately $487,000. Alps Advisors Inc. owned 0.06% of Anika Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in Anika Therapeutics by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the biotechnology company’s stock worth $554,000 after purchasing an additional 89 shares during the period. Rhumbline Advisers grew its position in shares of Anika Therapeutics by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 27,720 shares of the biotechnology company’s stock valued at $1,368,000 after acquiring an additional 96 shares during the period. CS Mckee LP grew its position in shares of Anika Therapeutics by 0.7% during the 2nd quarter. CS Mckee LP now owns 14,100 shares of the biotechnology company’s stock valued at $696,000 after acquiring an additional 100 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Anika Therapeutics by 0.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,186 shares of the biotechnology company’s stock valued at $996,000 after acquiring an additional 100 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Anika Therapeutics by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 7,690 shares of the biotechnology company’s stock valued at $379,000 after acquiring an additional 100 shares during the period. 84.87% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Barrington Research raised their price target on shares of Anika Therapeutics from $53.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, October 27th.

In related news, insider Richard Hague sold 5,250 shares of Anika Therapeutics stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $54.48, for a total value of $286,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles H. Sherwood sold 3,293 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $60.04, for a total transaction of $197,711.72. The disclosure for this sale can be found here. Insiders sold a total of 43,886 shares of company stock valued at $2,606,455 in the last quarter. 6.57% of the stock is owned by insiders.

Anika Therapeutics Inc. (NASDAQ:ANIK) traded down $1.13 on Monday, reaching $53.61. 52,691 shares of the company’s stock were exchanged, compared to its average volume of 99,129. The stock has a market cap of $802.59, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.87 and a beta of 1.46. Anika Therapeutics Inc. has a twelve month low of $41.64 and a twelve month high of $60.29.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. Anika Therapeutics had a net margin of 28.23% and a return on equity of 13.40%. The firm had revenue of $27.18 million for the quarter, compared to analyst estimates of $27.44 million. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities research analysts expect that Anika Therapeutics Inc. will post 1.9 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Anika Therapeutics (NASDAQ:ANIK)

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