Anika Therapeutics (NASDAQ:ANIK) Stock Rating Reaffirmed by Barrington Research

Barrington Research restated their outperform rating on shares of Anika Therapeutics (NASDAQ:ANIK) in a report issued on Tuesday, Benzinga reports. The firm currently has a $37.00 price target on the biotechnology company’s stock.

Anika Therapeutics Price Performance

Shares of NASDAQ ANIK opened at $24.32 on Tuesday. The stock’s 50-day moving average is $25.04 and its two-hundred day moving average is $25.78. Anika Therapeutics has a 1-year low of $18.44 and a 1-year high of $29.11. The company has a market cap of $354.76 million, a price-to-earnings ratio of -4.63 and a beta of 0.83.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANIK. Stonepine Capital Management LLC boosted its position in shares of Anika Therapeutics by 171.4% during the 2nd quarter. Stonepine Capital Management LLC now owns 165,397 shares of the biotechnology company’s stock worth $4,190,000 after acquiring an additional 104,448 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Anika Therapeutics by 25.8% during the 1st quarter. Acadian Asset Management LLC now owns 421,427 shares of the biotechnology company’s stock worth $10,701,000 after acquiring an additional 86,436 shares in the last quarter. Riverwater Partners LLC boosted its position in shares of Anika Therapeutics by 539.1% during the 3rd quarter. Riverwater Partners LLC now owns 101,996 shares of the biotechnology company’s stock worth $2,552,000 after acquiring an additional 86,037 shares in the last quarter. Meros Investment Management LP boosted its position in shares of Anika Therapeutics by 25.0% during the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock worth $5,388,000 after acquiring an additional 42,587 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Anika Therapeutics by 6.9% during the 2nd quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company’s stock worth $15,153,000 after acquiring an additional 38,412 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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.