Anika Therapeutics Inc. (ANIK) Given Consensus Recommendation of “Strong Buy” by Brokerages

Anika Therapeutics Inc. (NASDAQ:ANIK) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus target price of $57.00 for the company and are expecting that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also given Anika Therapeutics an industry rank of 160 out of 265 based on the ratings given to its competitors.

ANIK has been the subject of several recent analyst reports. Barrington Research lifted their price objective on shares of Anika Therapeutics from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. BidaskClub lowered shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th.

In other news, insider Richard Hague sold 5,250 shares of Anika Therapeutics stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $54.48, for a total transaction of $286,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles H. Sherwood sold 3,293 shares of Anika Therapeutics stock in a transaction on Monday, October 16th. The stock was sold at an average price of $60.04, for a total value of $197,711.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,886 shares of company stock valued at $2,606,455. Corporate insiders own 6.57% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ANIK. SG Americas Securities LLC bought a new stake in shares of Anika Therapeutics during the third quarter worth $118,000. Victory Capital Management Inc. lifted its position in shares of Anika Therapeutics by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the biotechnology company’s stock worth $200,000 after purchasing an additional 608 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Anika Therapeutics by 3.0% during the second quarter. BNP Paribas Arbitrage SA now owns 4,315 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 126 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Anika Therapeutics during the third quarter worth $222,000. Finally, Miles Capital Inc. bought a new stake in shares of Anika Therapeutics during the second quarter worth $232,000. Institutional investors and hedge funds own 84.91% of the company’s stock.

Anika Therapeutics (ANIK) opened at $55.11 on Thursday. The company has a market cap of $805.08, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.46. Anika Therapeutics has a one year low of $41.64 and a one year high of $60.29.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $27.18 million during the quarter, compared to analyst estimates of $27.44 million. Anika Therapeutics had a net margin of 28.23% and a return on equity of 13.40%. Anika Therapeutics’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. analysts predict that Anika Therapeutics will post 1.9 EPS for the current fiscal year.

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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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