Zacks: Anika Therapeutics Inc (ANIK) Receives Average Recommendation of “Strong Buy” from Analysts
Shares of Anika Therapeutics Inc (NASDAQ:ANIK) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus target price of $57.00 for the company and are expecting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Anika Therapeutics an industry rank of 102 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of Anika Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 6th.
Several institutional investors have recently bought and sold shares of ANIK. Municipal Employees Retirement System of Michigan raised its position in Anika Therapeutics by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,180 shares of the biotechnology company’s stock valued at $152,000 after buying an additional 50 shares during the period. Teachers Advisors LLC raised its position in Anika Therapeutics by 3.5% in the third quarter. Teachers Advisors LLC now owns 167,896 shares of the biotechnology company’s stock valued at $8,034,000 after buying an additional 5,600 shares during the period. New York State Common Retirement Fund raised its position in Anika Therapeutics by 19.9% in the third quarter. New York State Common Retirement Fund now owns 60,560 shares of the biotechnology company’s stock valued at $2,898,000 after buying an additional 10,055 shares during the period. BlackRock Fund Advisors raised its position in Anika Therapeutics by 9.9% in the third quarter. BlackRock Fund Advisors now owns 1,036,596 shares of the biotechnology company’s stock valued at $49,601,000 after buying an additional 93,300 shares during the period. Finally, KBC Group NV raised its position in Anika Therapeutics by 98.9% in the third quarter. KBC Group NV now owns 16,189 shares of the biotechnology company’s stock valued at $775,000 after buying an additional 8,050 shares during the period. 76.53% of the stock is owned by hedge funds and other institutional investors.
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Anika Therapeutics (NASDAQ:ANIK) traded up 0.52% on Monday, hitting $44.59. 54,573 shares of the stock traded hands. The company has a market capitalization of $652.71 million, a PE ratio of 20.74 and a beta of 1.85. The firm has a 50-day moving average price of $43.61 and a 200-day moving average price of $46.68. Anika Therapeutics has a 12 month low of $41.38 and a 12 month high of $54.96.
Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, February 15th. The biotechnology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm earned $28.70 million during the quarter, compared to analyst estimates of $27.84 million. Anika Therapeutics had a net margin of 33.64% and a return on equity of 17.21%. Analysts forecast that Anika Therapeutics will post $2.07 earnings per share for the current year.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
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