Anika Therapeutics Inc. (ANIK) Lowered to “Hold” at Zacks Investment Research
Anika Therapeutics Inc. (NASDAQ:ANIK) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products and devices that promote the repair, protection and healing of bone, cartilage and soft tissue. These products are based on hyaluronic acid, a naturally-occurring, biocompatible polymer found in the body. Due to its unique properties, hyaluronic acid plays an important role in numerous physiological functions such as the protection and lubrication of soft tissues and joints, the maintenance of the structural integrity of tissues and the transport of molecules to and within cells. “
Shares of Anika Therapeutics (NASDAQ:ANIK) traded down 2.562% on Tuesday, reaching $46.595. The company’s stock had a trading volume of 38,670 shares. Anika Therapeutics has a 1-year low of $32.60 and a 1-year high of $54.96. The stock has a market capitalization of $688.53 million, a PE ratio of 20.338 and a beta of 1.49. The stock has a 50-day moving average of $47.61 and a 200 day moving average of $48.13.
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Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.44 by $0.13. Anika Therapeutics had a net margin of 33.77% and a return on equity of 17.24%. The company had revenue of $26.60 million for the quarter, compared to analyst estimates of $24.75 million. During the same quarter last year, the business earned $0.51 earnings per share. Anika Therapeutics’s revenue was up 16.2% compared to the same quarter last year. On average, equities analysts forecast that Anika Therapeutics will post $2.00 EPS for the current year.
Several large investors have recently made changes to their positions in ANIK. Teacher Retirement System of Texas raised its stake in shares of Anika Therapeutics by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,037 shares of the company’s stock valued at $109,000 after buying an additional 252 shares during the last quarter. BlackRock Inc. raised its stake in shares of Anika Therapeutics by 99.0% in the second quarter. BlackRock Inc. now owns 2,032 shares of the company’s stock valued at $109,000 after buying an additional 1,011 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Anika Therapeutics during the second quarter valued at approximately $150,000. Paloma Partners Management Co purchased a new stake in shares of Anika Therapeutics during the second quarter valued at approximately $233,000. Finally, Bank of Montreal Can purchased a new stake in shares of Anika Therapeutics during the second quarter valued at approximately $247,000. Institutional investors own 77.84% of the company’s stock.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company offers therapeutic pain management solutions. It is engaged in developing, manufacturing and commercializing approximately 20 products based on its hyaluronic acid (HA) technology. It orthopedic medicine portfolio consists of marketed (ORTHOVISC and MONOVISC) and pipeline (CINGAL and HYALOFAST in the United States) products to alleviate pain and restore joint function by replenishing depleted HA and aiding cartilage repair and regeneration.
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