Piermont Capital Management Inc. Boosts Position in Anika Therapeutics Inc (ANIK)

Piermont Capital Management Inc. increased its position in Anika Therapeutics Inc (NASDAQ:ANIK) by 13.2% in the first quarter, HoldingsChannel reports. The firm owned 43,324 shares of the biotechnology company’s stock after purchasing an additional 5,040 shares during the quarter. Piermont Capital Management Inc.’s holdings in Anika Therapeutics were worth $2,154,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. HL Financial Services LLC grew its stake in Anika Therapeutics by 16.8% in the fourth quarter. HL Financial Services LLC now owns 5,714 shares of the biotechnology company’s stock worth $308,000 after purchasing an additional 821 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Anika Therapeutics by 3.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 29,588 shares of the biotechnology company’s stock worth $1,595,000 after purchasing an additional 939 shares in the last quarter. California Public Employees Retirement System grew its stake in Anika Therapeutics by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 76,111 shares of the biotechnology company’s stock worth $4,103,000 after purchasing an additional 976 shares in the last quarter. Quantitative Investment Management LLC grew its stake in Anika Therapeutics by 14.9% in the fourth quarter. Quantitative Investment Management LLC now owns 10,000 shares of the biotechnology company’s stock worth $539,000 after purchasing an additional 1,300 shares in the last quarter. Finally, BB&T Securities LLC grew its stake in Anika Therapeutics by 10.0% in the fourth quarter. BB&T Securities LLC now owns 14,593 shares of the biotechnology company’s stock worth $786,000 after purchasing an additional 1,327 shares in the last quarter. Institutional investors and hedge funds own 84.56% of the company’s stock.

Shares of Anika Therapeutics opened at $38.94 on Monday, MarketBeat reports. Anika Therapeutics Inc has a 52 week low of $30.91 and a 52 week high of $69.81. The company has a market capitalization of $574.18 million, a price-to-earnings ratio of 22.77, a P/E/G ratio of 3.61 and a beta of 1.77.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.71). Anika Therapeutics had a net margin of 17.64% and a return on equity of 10.05%. The company had revenue of $21.30 million during the quarter, compared to analyst estimates of $24.34 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was down 9.0% on a year-over-year basis. equities research analysts predict that Anika Therapeutics Inc will post 1.08 EPS for the current year.

A number of equities analysts recently commented on the company. Barrington Research downgraded Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 23rd. TheStreet downgraded Anika Therapeutics from a “b-” rating to a “c” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, May 7th. BidaskClub downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, ValuEngine downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.50.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.

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

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