Anika Therapeutics (NASDAQ:ANIK) Price Target Raised to $37.00

Anika Therapeutics (NASDAQ:ANIK) had its target price lifted by Barrington Research from $29.00 to $37.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Separately, StockNews.com upgraded Anika Therapeutics from a hold rating to a buy rating in a research report on Thursday.

Anika Therapeutics Price Performance

ANIK stock traded down $0.17 during midday trading on Thursday, reaching $25.27. 104,218 shares of the stock were exchanged, compared to its average volume of 85,755. The company has a fifty day moving average price of $24.15 and a 200 day moving average price of $21.59. Anika Therapeutics has a 52 week low of $16.54 and a 52 week high of $29.25. The stock has a market capitalization of $369.95 million, a PE ratio of -4.47 and a beta of 0.75.

Institutional Investors Weigh In On Anika Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Trexquant Investment LP bought a new stake in shares of Anika Therapeutics during the 3rd quarter valued at about $944,000. GSA Capital Partners LLP bought a new stake in shares of Anika Therapeutics during the 3rd quarter valued at about $962,000. Acadian Asset Management LLC boosted its position in shares of Anika Therapeutics by 184.5% during the 3rd quarter. Acadian Asset Management LLC now owns 336,058 shares of the biotechnology company’s stock valued at $6,255,000 after purchasing an additional 217,915 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Anika Therapeutics during the 3rd quarter worth approximately $209,000. Finally, Barclays PLC raised its stake in Anika Therapeutics by 9.0% during the 3rd quarter. Barclays PLC now owns 26,765 shares of the biotechnology company’s stock worth $499,000 after buying an additional 2,209 shares during the period. Institutional investors own 90.79% of the company’s stock.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and bone preserving joint solutions in the United States, Europe, and internationally.