Anika Therapeutics (ANIK) Raised to Sell at ValuEngine

ValuEngine upgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday morning.

ANIK has been the topic of several other reports. Zacks Investment Research upgraded shares of Anika Therapeutics from a sell rating to a hold rating in a research report on Monday, April 30th. Barrington Research lowered shares of Anika Therapeutics from an outperform rating to a market perform rating in a research report on Wednesday, June 20th. BidaskClub upgraded shares of Anika Therapeutics from a sell rating to a hold rating in a research report on Thursday, May 3rd. First Analysis lowered shares of Anika Therapeutics from an overweight rating to an equal weight rating and decreased their price target for the stock from $45.00 to $34.00 in a research report on Wednesday, June 20th. Finally, TheStreet lowered shares of Anika Therapeutics from a b- rating to a c rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $36.50.

Shares of Anika Therapeutics opened at $32.00 on Wednesday, according to Marketbeat.com. The firm has a market capitalization of $464.33 million, a P/E ratio of 16.33, a PEG ratio of 2.86 and a beta of 1.72. Anika Therapeutics has a one year low of $28.54 and a one year high of $69.81.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, missing the consensus estimate of $0.25 by ($0.71). The firm had revenue of $21.30 million during the quarter, compared to the consensus estimate of $24.34 million. Anika Therapeutics had a return on equity of 10.05% and a net margin of 17.64%. The business’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 EPS. analysts expect that Anika Therapeutics will post 1.1 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. We Are One Seven LLC acquired a new stake in Anika Therapeutics in the 4th quarter worth $160,000. MetLife Investment Advisors LLC acquired a new stake in shares of Anika Therapeutics during the 4th quarter valued at about $382,000. BlackRock Inc. boosted its position in shares of Anika Therapeutics by 3.2% during the 4th quarter. BlackRock Inc. now owns 1,876,645 shares of the biotechnology company’s stock valued at $101,171,000 after acquiring an additional 58,120 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Anika Therapeutics by 2.6% during the 4th quarter. Wells Fargo & Company MN now owns 215,323 shares of the biotechnology company’s stock valued at $11,607,000 after acquiring an additional 5,395 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Anika Therapeutics by 4.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 68,551 shares of the biotechnology company’s stock valued at $3,696,000 after acquiring an additional 2,686 shares in the last quarter. Institutional investors own 83.54% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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