Shares of Anika Therapeutics Inc (NASDAQ:ANIK) have been given an average recommendation of “Buy” by the eight analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $40.00.

Several brokerages have recently weighed in on ANIK. BidaskClub lowered shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Monday, May 6th. ValuEngine upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. TheStreet lowered shares of Anika Therapeutics from a “b-” rating to a “c” rating in a report on Friday, March 29th. Finally, Sidoti set a $35.00 price objective on shares of Anika Therapeutics and gave the company a “hold” rating in a report on Tuesday, March 5th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Anika Therapeutics by 0.6% during the first quarter. BlackRock Inc. now owns 2,126,117 shares of the biotechnology company’s stock valued at $64,294,000 after purchasing an additional 13,068 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Anika Therapeutics by 13.2% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,605,661 shares of the biotechnology company’s stock valued at $48,555,000 after purchasing an additional 187,056 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Anika Therapeutics by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,024,179 shares of the biotechnology company’s stock valued at $30,971,000 after purchasing an additional 26,738 shares during the period. Vanguard Group Inc. raised its holdings in shares of Anika Therapeutics by 1.0% during the third quarter. Vanguard Group Inc. now owns 861,569 shares of the biotechnology company’s stock valued at $36,340,000 after purchasing an additional 8,799 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Anika Therapeutics by 38.9% in the 1st quarter. Renaissance Technologies LLC now owns 365,410 shares of the biotechnology company’s stock worth $11,050,000 after acquiring an additional 102,277 shares during the last quarter. Hedge funds and other institutional investors own 94.18% of the company’s stock.

Shares of ANIK opened at $39.77 on Tuesday. The company has a current ratio of 18.07, a quick ratio of 16.12 and a debt-to-equity ratio of 0.08. The firm has a market cap of $565.01 million, a price-to-earnings ratio of 19.31, a PEG ratio of 3.05 and a beta of 1.08. Anika Therapeutics has a 12 month low of $28.54 and a 12 month high of $46.43.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. The business had revenue of $24.72 million for the quarter, compared to analysts’ expectations of $22.06 million. Anika Therapeutics had a net margin of 27.44% and a return on equity of 11.57%. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.46) earnings per share. As a group, sell-side analysts predict that Anika Therapeutics will post 1.3 EPS for the current year.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.

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