Anika Therapeutics (NASDAQ:ANIK) Downgraded to Hold Rating by StockNews.com

Anika Therapeutics (NASDAQ:ANIKGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Barrington Research decreased their price target on Anika Therapeutics from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday.

Read Our Latest Research Report on Anika Therapeutics

Anika Therapeutics Stock Up 3.3 %

NASDAQ ANIK traded up $0.54 during trading hours on Monday, reaching $17.07. The company’s stock had a trading volume of 221,722 shares, compared to its average volume of 65,680. The firm’s 50-day moving average price is $24.45 and its 200-day moving average price is $25.58. Anika Therapeutics has a 1 year low of $16.00 and a 1 year high of $29.11. The company has a market capitalization of $252.58 million, a price-to-earnings ratio of -2.57 and a beta of 0.86.

Anika Therapeutics (NASDAQ:ANIKGet Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.24). The business had revenue of $41.92 million during the quarter, compared to analysts’ expectations of $39.90 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. During the same period in the prior year, the firm posted ($0.06) earnings per share. Equities research analysts anticipate that Anika Therapeutics will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Anika Therapeutics

Several hedge funds have recently bought and sold shares of ANIK. BNP Paribas Financial Markets grew its position in Anika Therapeutics by 16.9% in the 1st quarter. BNP Paribas Financial Markets now owns 22,240 shares of the biotechnology company’s stock valued at $565,000 after acquiring an additional 3,217 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Anika Therapeutics by 7.8% during the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock worth $219,000 after buying an additional 627 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Anika Therapeutics during the 1st quarter worth $198,000. Vanguard Group Inc. grew its position in shares of Anika Therapeutics by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock worth $19,652,000 after buying an additional 9,657 shares in the last quarter. Finally, Capital Management Corp VA grew its position in shares of Anika Therapeutics by 2.4% during the 1st quarter. Capital Management Corp VA now owns 364,025 shares of the biotechnology company’s stock worth $9,246,000 after buying an additional 8,491 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Company Profile

(Get Free Report)

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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