Anika Therapeutics (NASDAQ:ANIK) Price Target Cut to $25.00 by Analysts at Barrington Research

Anika Therapeutics (NASDAQ:ANIK) had its price objective lowered by Barrington Research from $37.00 to $25.00 in a research report released on Friday morning, MarketBeat reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Anika Therapeutics Price Performance

Shares of ANIK traded down $0.58 during mid-day trading on Friday, reaching $16.53. The company’s stock had a trading volume of 285,961 shares, compared to its average volume of 64,944. Anika Therapeutics has a 12-month low of $16.00 and a 12-month high of $29.11. The stock has a market cap of $244.64 million, a PE ratio of -3.26 and a beta of 0.83. The company’s 50 day moving average is $24.62 and its 200 day moving average is $25.64.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.24). The firm had revenue of $41.92 million for the quarter, compared to analysts’ expectations of $39.90 million. Anika Therapeutics had a positive return on equity of 0.94% and a negative net margin of 44.45%. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, sell-side analysts anticipate that Anika Therapeutics will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Anika Therapeutics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 773,702 shares of the biotechnology company’s stock valued at $19,652,000 after purchasing an additional 9,657 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Anika Therapeutics by 6.9% in the 2nd quarter. Renaissance Technologies LLC now owns 598,229 shares of the biotechnology company’s stock valued at $15,153,000 after purchasing an additional 38,412 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Anika Therapeutics by 5.1% in the 2nd quarter. Acadian Asset Management LLC now owns 442,944 shares of the biotechnology company’s stock valued at $11,217,000 after purchasing an additional 21,517 shares during the last quarter. Capital Management Corp VA grew its stake in shares of Anika Therapeutics by 2.4% in the 1st quarter. Capital Management Corp VA now owns 364,025 shares of the biotechnology company’s stock valued at $9,246,000 after purchasing an additional 8,491 shares during the last quarter. Finally, Meros Investment Management LP grew its stake in shares of Anika Therapeutics by 25.0% in the 2nd quarter. Meros Investment Management LP now owns 212,714 shares of the biotechnology company’s stock valued at $5,388,000 after purchasing an additional 42,587 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Company Profile

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.