Anika Therapeutics Inc. (NASDAQ:ANIK) had its price target hoisted by equities research analysts at Barrington Research from $53.00 to $57.00 in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price target suggests a potential upside of 2.37% from the company’s previous close.

Several other brokerages have also weighed in on ANIK. BidaskClub upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Anika Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 2nd.

Anika Therapeutics (ANIK) traded up 1.51% during trading on Friday, reaching $55.68. The company’s stock had a trading volume of 151,354 shares. Anika Therapeutics has a 12 month low of $41.38 and a 12 month high of $60.29. The stock’s 50-day moving average is $57.93 and its 200 day moving average is $50.82. The company has a market cap of $816.16 million, a P/E ratio of 24.74 and a beta of 1.66.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Anika Therapeutics had a net margin of 28.23% and a return on equity of 13.40%. The firm had revenue of $27.18 million for the quarter, compared to analyst estimates of $27.44 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Anika Therapeutics will post $2.05 EPS for the current fiscal year.

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In related news, CEO Charles H. Sherwood sold 7,124 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $60.08, for a total value of $428,009.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles H. Sherwood sold 22,228 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $60.06, for a total transaction of $1,335,013.68. Following the completion of the sale, the chief executive officer now owns 158,297 shares in the company, valued at approximately $9,507,317.82. The disclosure for this sale can be found here. Insiders sold a total of 38,636 shares of company stock worth $2,320,435 in the last 90 days. 6.57% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ANIK. State of Alaska Department of Revenue raised its holdings in shares of Anika Therapeutics by 79.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,872 shares of the biotechnology company’s stock worth $141,000 after acquiring an additional 1,272 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of Anika Therapeutics by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 3,423 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 228 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Anika Therapeutics by 68.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,452 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 1,402 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Anika Therapeutics by 3.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,450 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 100 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Anika Therapeutics in the 1st quarter worth about $204,000. Institutional investors own 84.44% of the company’s stock.

Anika Therapeutics Company Profile

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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