Anika Therapeutics (NASDAQ:ANIK) Upgraded at Wall Street Zen

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.Get Anika Therapeutics alerts:Several other equities research analysts also recently commented on the company. Barrington Research increased their price objective on Anika Therapeutics from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday. Weiss Ratings restated a "sell (d-)" rating on shares of Anika Therapeutics in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.50.Read Our Latest Stock Analysis on ANIKAnika Therapeutics Price PerformanceShares of Anika Therapeutics stock opened at $9.85 on Friday. The firm has a 50 day simple moving average of $9.24 and a 200 day simple moving average of $10.46. The firm has a market cap of $142.02 million, a P/E ratio of -2.37 and a beta of 0.61. Anika Therapeutics has a fifty-two week low of $7.87 and a fifty-two week high of $18.37. Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. The firm had revenue of $27.82 million for the quarter, compared to analyst estimates of $27.80 million. Anika Therapeutics had a negative return on equity of 10.97% and a negative net margin of 48.99%. On average, sell-side analysts expect that Anika Therapeutics will post -0.84 EPS for the current year. Hedge Funds Weigh In On Anika TherapeuticsSeveral institutional investors have recently modified their holdings of the company. CWM LLC grew its holdings in shares of Anika Therapeutics by 526.6% during the 3rd quarter. CWM LLC now owns 7,457 shares of the biotechnology company's stock valued at $70,000 after purchasing an additional 6,267 shares during the last quarter. Williams & Novak LLC purchased a new position in shares of Anika Therapeutics during the third quarter valued at about $102,000. Strs Ohio purchased a new position in shares of Anika Therapeutics during the 3rd quarter worth approximately $131,000. Atria Investments Inc raised its holdings in Anika Therapeutics by 19.3% in the second quarter. Atria Investments Inc now owns 13,096 shares of the biotechnology company's stock worth $139,000 after purchasing an additional 2,118 shares in the last quarter. Finally, Man Group plc purchased a new position in Anika Therapeutics during the 2nd quarter valued at about $140,000. 91.53% of the stock is currently owned by institutional investors. Anika Therapeutics Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Anika TherapeuticsPets Are Big Business: 4 Big-Ticket Pet Stocks to Add to Your PortfolioOpenAI's Restructuring Sets up What Could Be the Biggest IPO EverWhat is a buyback in stocks? A comprehensive guide for investors2 Rare Earth Stocks the U.S. Government Doesn’t Want to FailCompound Interest and Why It Matters When InvestingCrowdStrike Partners With CoreWeave But Investors Sell the NewsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Anika Therapeutics Right Now?Before you consider Anika Therapeutics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Anika Therapeutics wasn't on the list.While Anika Therapeutics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here