Anika Therapeutics Inc. (NASDAQ:ANIK) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price objective of $57.00 for the company and are forecasting that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given Anika Therapeutics an industry rank of 100 out of 265 based on the ratings given to its competitors.
Separately, Barrington Research raised their target price on Anika Therapeutics from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, October 27th.
Anika Therapeutics (NASDAQ ANIK) opened at $53.66 on Monday. Anika Therapeutics has a one year low of $41.64 and a one year high of $60.29. The firm has a market capitalization of $786.75, a P/E ratio of 25.19, a P/E/G ratio of 2.82 and a beta of 1.46.
Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. Anika Therapeutics had a return on equity of 13.40% and a net margin of 28.23%. The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $27.44 million. During the same period last year, the business earned $0.59 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. equities analysts anticipate that Anika Therapeutics will post 1.9 EPS for the current year.
In other news, insider Richard Hague sold 5,250 shares of Anika Therapeutics stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $54.48, for a total transaction of $286,020.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles H. Sherwood sold 22,228 shares of Anika Therapeutics stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.06, for a total value of $1,335,013.68. Following the sale, the chief executive officer now directly owns 158,297 shares in the company, valued at approximately $9,507,317.82. The disclosure for this sale can be found here. Insiders sold a total of 43,886 shares of company stock worth $2,606,455 in the last ninety days. Insiders own 6.57% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ANIK. SG Americas Securities LLC acquired a new stake in Anika Therapeutics in the 3rd quarter valued at $118,000. Municipal Employees Retirement System of Michigan raised its position in Anika Therapeutics by 3.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,450 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 100 shares during the last quarter. Victory Capital Management Inc. raised its position in Anika Therapeutics by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,060 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 608 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Anika Therapeutics by 3.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,315 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 126 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Anika Therapeutics during the third quarter worth $222,000. 85.04% of the stock is currently owned by institutional investors and hedge funds.
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About Anika Therapeutics
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.
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