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.

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 ANIK

Anika Therapeutics Price Performance

Shares 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 Therapeutics

Several 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

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.

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