Barrington Research Issues Pessimistic Forecast for Anika Therapeutics (NASDAQ:ANIK) Stock Price

Anika Therapeutics (NASDAQ:ANIK) had its price target decreased by stock analysts at Barrington Research from $37.00 to $25.00 in a note issued to investors on Friday, Briefing.com reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price objective indicates a potential upside of 49.25% from the company’s previous close.

Anika Therapeutics Trading Down 2.1 %

NASDAQ ANIK traded down $0.36 during mid-day trading on Friday, hitting $16.75. The company’s stock had a trading volume of 30,639 shares, compared to its average volume of 63,740. The company’s 50 day simple moving average is $24.80 and its 200 day simple moving average is $25.70. 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 $247.90 million, a price-to-earnings ratio of -3.28 and a beta of 0.83.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.24). The company had revenue of $41.92 million during the quarter, compared to the consensus estimate of $39.90 million. Anika Therapeutics had a negative net margin of 44.45% and a positive return on equity of 0.94%. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, research analysts forecast that Anika Therapeutics will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Anika Therapeutics

Large investors have recently modified their holdings of the stock. Eastern Bank purchased a new stake in Anika Therapeutics during the third quarter valued at about $28,000. Lazard Asset Management LLC bought a new position in Anika Therapeutics in the 1st quarter worth approximately $180,000. State Board of Administration of Florida Retirement System purchased a new position in Anika Therapeutics in the 1st quarter valued at approximately $198,000. SG Americas Securities LLC raised its holdings in 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. Finally, BNP Paribas Financial Markets lifted its position in shares of Anika Therapeutics by 16.9% during the first quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company’s stock worth $565,000 after acquiring an additional 3,217 shares in the last quarter. Hedge funds and other institutional investors own 91.53% 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 arthrosurface joint solutions in the United States, Europe, and internationally.