Anika Therapeutics (NASDAQ:ANIK) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Anika Therapeutics (NASDAQ:ANIK) from a buy rating to a hold rating in a research note released on Monday.

Separately, Barrington Research lowered their price objective on shares of Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating for the company in a report on Friday.

Anika Therapeutics Stock Up 3.3 %

Shares of NASDAQ ANIK opened at $17.07 on Monday. The stock’s 50-day simple moving average is $24.45 and its two-hundred day simple moving average is $25.58. Anika Therapeutics has a twelve month low of $16.00 and a twelve month high of $29.11. The firm has a market capitalization of $252.58 million, a P/E ratio of -2.57 and a beta of 0.86.

Anika Therapeutics (NASDAQ:ANIK) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.24). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. The business had revenue of $41.92 million for the quarter, compared to the consensus estimate of $39.90 million. During the same period in the prior year, the business posted ($0.06) EPS. As a group, research analysts anticipate that Anika Therapeutics will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank bought a new position in Anika Therapeutics in the third quarter valued at about $28,000. Lazard Asset Management LLC bought a new stake in Anika Therapeutics during the first quarter valued at approximately $180,000. State Board of Administration of Florida Retirement System purchased a new stake in Anika Therapeutics during the first quarter valued at approximately $198,000. Atria Investments Inc bought a new position in Anika Therapeutics in the third quarter worth approximately $218,000. Finally, SG Americas Securities LLC grew its position in shares of Anika Therapeutics by 7.8% during the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 627 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

About Anika Therapeutics

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 arthrosurface joint solutions in the United States, Europe, and internationally.