Fisher Asset Management LLC Decreases Position in Anika Therapeutics Inc (ANIK)

Fisher Asset Management LLC reduced its stake in Anika Therapeutics Inc (NASDAQ:ANIK) by 22.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,678 shares of the biotechnology company’s stock after selling 20,203 shares during the period. Fisher Asset Management LLC’s holdings in Anika Therapeutics were worth $2,981,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Anika Therapeutics by 3.0% during the first quarter. Principal Financial Group Inc. now owns 117,585 shares of the biotechnology company’s stock valued at $5,846,000 after purchasing an additional 3,376 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Anika Therapeutics by 11.5% during the second quarter. Baird Financial Group Inc. now owns 90,515 shares of the biotechnology company’s stock valued at $2,896,000 after purchasing an additional 9,318 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Anika Therapeutics by 100.0% during the second quarter. Gabelli Funds LLC now owns 12,000 shares of the biotechnology company’s stock valued at $384,000 after purchasing an additional 6,000 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Anika Therapeutics during the second quarter valued at approximately $250,000. Finally, HL Financial Services LLC increased its stake in shares of Anika Therapeutics by 35.5% during the second quarter. HL Financial Services LLC now owns 7,900 shares of the biotechnology company’s stock valued at $253,000 after purchasing an additional 2,071 shares in the last quarter. 94.58% of the stock is owned by institutional investors.

A number of brokerages have weighed in on ANIK. Zacks Investment Research raised shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research note on Monday. BidaskClub raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Barrington Research raised shares of Anika Therapeutics from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Friday, July 27th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $41.00.

Shares of NASDAQ ANIK opened at $36.28 on Friday. Anika Therapeutics Inc has a fifty-two week low of $28.54 and a fifty-two week high of $69.81. The company has a market cap of $511.61 million, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.16 and a beta of 2.04.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, October 24th. The biotechnology company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.22. Anika Therapeutics had a net margin of 17.66% and a return on equity of 9.78%. The business had revenue of $26.79 million during the quarter, compared to the consensus estimate of $27.12 million. During the same quarter last year, the firm earned $0.46 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis.

Anika Therapeutics 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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