Analysts Set $57.00 Price Target for Anika Therapeutics Inc. (ANIK)

Anika Therapeutics Inc. (NASDAQ:ANIK) has been given an average 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 recommendation.

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 EPS for the current quarter, according to Zacks. Zacks has also assigned Anika Therapeutics an industry rank of 166 out of 265 based on the ratings given to its competitors.

Several equities research analysts recently weighed in on the stock. BidaskClub raised shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Barrington Research raised their price target on shares of Anika Therapeutics from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Friday, October 27th.

In other Anika Therapeutics news, insider Richard Hague sold 5,250 shares of Anika Therapeutics stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $54.48, for a total value of $286,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles H. Sherwood sold 22,228 shares of Anika Therapeutics stock in a transaction that occurred on 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 directly owns 158,297 shares of the company’s stock, valued at approximately $9,507,317.82. The disclosure for this sale can be found here. 6.57% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its position in Anika Therapeutics by 4.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 68,551 shares of the biotechnology company’s stock worth $3,696,000 after purchasing an additional 2,686 shares during the period. Creative Planning bought a new stake in Anika Therapeutics in the 4th quarter worth approximately $444,000. Thomson Horstmann & Bryant Inc. grew its position in Anika Therapeutics by 11.8% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 243,090 shares of the biotechnology company’s stock worth $13,104,000 after purchasing an additional 25,661 shares during the period. CS Mckee LP grew its position in Anika Therapeutics by 42.6% in the 3rd quarter. CS Mckee LP now owns 20,100 shares of the biotechnology company’s stock worth $1,166,000 after purchasing an additional 6,000 shares during the period. Finally, California Public Employees Retirement System grew its position in Anika Therapeutics by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 75,135 shares of the biotechnology company’s stock worth $4,358,000 after purchasing an additional 1,135 shares during the period. 84.91% of the stock is owned by institutional investors and hedge funds.

Shares of Anika Therapeutics (ANIK) opened at $58.10 on Friday. The firm has a market cap of $855.66, a P/E ratio of 27.28, a P/E/G ratio of 3.54 and a beta of 1.44. Anika Therapeutics has a 1 year low of $41.64 and a 1 year high of $60.29.

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

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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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