BidaskClub downgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a strong-buy rating to a buy rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other equities analysts also recently issued reports on the stock. Singular Research reaffirmed a buy rating on shares of Anika Therapeutics in a report on Thursday, February 28th. ValuEngine upgraded shares of Anika Therapeutics from a strong sell rating to a sell rating in a research report on Thursday, April 11th. Zacks Investment Research raised Anika Therapeutics from a hold rating to a buy rating and set a $44.00 target price for the company in a research note on Monday, May 6th. TheStreet lowered Anika Therapeutics from a b- rating to a c rating in a research note on Friday, March 29th. Finally, Sidoti set a $35.00 price target on Anika Therapeutics and gave the stock a hold rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Anika Therapeutics presently has a consensus rating of Buy and a consensus target price of $40.00.

NASDAQ:ANIK opened at $39.71 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 16.12 and a current ratio of 18.07. Anika Therapeutics has a 52 week low of $28.54 and a 52 week high of $46.43. The stock has a market cap of $564.16 million, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Anika Therapeutics had a net margin of 27.44% and a return on equity of 11.57%. The business had revenue of $24.72 million for the quarter, compared to the consensus estimate of $22.06 million. During the same period last year, the company earned ($0.46) EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. Equities research analysts anticipate that Anika Therapeutics will post 1.28 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC lifted its holdings in Anika Therapeutics by 80.5% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 116,400 shares of the biotechnology company’s stock worth $3,520,000 after buying an additional 51,910 shares during the last quarter. Morgan Stanley increased its position in Anika Therapeutics by 144.3% during the 1st quarter. Morgan Stanley now owns 146,941 shares of the biotechnology company’s stock worth $4,444,000 after purchasing an additional 86,804 shares during the period. SEI Investments Co boosted its stake in shares of Anika Therapeutics by 344.8% during the 1st quarter. SEI Investments Co now owns 9,279 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 7,193 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Anika Therapeutics by 0.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 77,358 shares of the biotechnology company’s stock worth $2,339,000 after acquiring an additional 569 shares in the last quarter. Finally, Ellington Management Group LLC purchased a new stake in Anika Therapeutics in the 1st quarter valued at approximately $239,000. Hedge funds and other institutional investors own 94.18% of the company’s stock.

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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