BidaskClub downgraded shares of Anika Therapeutics (NASDAQ:ANIK) from a hold rating to a sell rating in a research note published on Thursday.

Separately, Barrington Research increased their price target on shares of Anika Therapeutics from $53.00 to $57.00 and gave the company an outperform rating in a research report on Friday, October 27th.

Shares of Anika Therapeutics (NASDAQ:ANIK) opened at $53.44 on Thursday. The firm has a market cap of $783.54, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 2.81 and a beta of 1.46. Anika Therapeutics has a 12-month low of $41.64 and a 12-month high of $60.29.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The business had revenue of $27.18 million during the quarter, compared to analysts’ expectations of $27.44 million. Anika Therapeutics had a net margin of 28.23% and a return on equity of 13.40%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. analysts anticipate that Anika Therapeutics will post 1.9 earnings per share for the current year.

In other news, CEO Charles H. Sherwood sold 3,293 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $60.04, for a total value of $197,711.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles H. Sherwood sold 5,991 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $60.04, for a total transaction of $359,699.64. Following the completion of the sale, the chief executive officer now directly owns 158,297 shares of the company’s stock, valued at $9,504,151.88. The disclosure for this sale can be found here. Insiders have sold a total of 43,886 shares of company stock valued at $2,606,455 in the last three months. 6.57% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of ANIK. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Anika Therapeutics by 16.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,656,918 shares of the biotechnology company’s stock worth $96,101,000 after purchasing an additional 233,325 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Anika Therapeutics by 76.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 490,433 shares of the biotechnology company’s stock worth $24,199,000 after purchasing an additional 213,055 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Anika Therapeutics by 13.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 878,006 shares of the biotechnology company’s stock worth $43,321,000 after purchasing an additional 106,307 shares during the period. Sei Investments Co. purchased a new stake in shares of Anika Therapeutics in the 3rd quarter worth about $6,161,000. Finally, Wells Fargo & Company MN lifted its position in shares of Anika Therapeutics by 25.0% in the 3rd quarter. Wells Fargo & Company MN now owns 209,928 shares of the biotechnology company’s stock worth $12,176,000 after purchasing an additional 42,015 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

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About Anika Therapeutics

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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