Anika Therapeutics Inc (NASDAQ:ANIK) – Stock analysts at BWS Financial issued their FY2019 earnings estimates for Anika Therapeutics in a research report issued on Tuesday, November 5th. BWS Financial analyst H. Khorsand forecasts that the biotechnology company will post earnings of $2.04 per share for the year. BWS Financial has a “Sell” rating and a $29.00 price target on the stock.
Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Thursday, October 24th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.25. The company had revenue of $29.70 million during the quarter, compared to analysts’ expectations of $27.01 million. Anika Therapeutics had a net margin of 27.60% and a return on equity of 11.59%. Anika Therapeutics’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share.
A number of other research firms also recently commented on ANIK. BidaskClub downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Barrington Research reaffirmed an “outperform” rating and issued a $58.00 price target (up previously from $49.00) on shares of Anika Therapeutics in a research note on Tuesday, September 24th. Zacks Investment Research raised Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $61.00 price target for the company in a research note on Thursday, September 26th. First Analysis downgraded Anika Therapeutics from a “strong-buy” rating to an “outperform” rating and set a $54.00 target price for the company. in a research note on Monday, September 23rd. Finally, ValuEngine downgraded Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Anika Therapeutics presently has an average rating of “Buy” and a consensus price target of $50.40.
ANIK stock traded down $0.19 during midday trading on Friday, reaching $60.22. The company had a trading volume of 158,917 shares, compared to its average volume of 184,290. The company has a market capitalization of $893.41 million, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 3.09 and a beta of 1.07. The stock has a 50 day moving average price of $59.42 and a 200-day moving average price of $48.51. Anika Therapeutics has a 1-year low of $29.01 and a 1-year high of $75.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 19.99 and a quick ratio of 17.74.
In other news, Director Joseph L. Bower sold 1,994 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $55.57, for a total value of $110,806.58. Following the completion of the transaction, the director now owns 43,010 shares of the company’s stock, valued at $2,390,065.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Glenn R. Larsen sold 4,355 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $57.21, for a total value of $249,149.55. Following the completion of the transaction, the director now directly owns 7,590 shares of the company’s stock, valued at approximately $434,223.90. The disclosure for this sale can be found here. Corporate insiders own 3.67% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Anika Therapeutics by 1.6% in the second quarter. BlackRock Inc. now owns 2,159,985 shares of the biotechnology company’s stock valued at $87,737,000 after acquiring an additional 33,868 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Anika Therapeutics in the 2nd quarter worth $406,000. Voloridge Investment Management LLC bought a new position in shares of Anika Therapeutics in the 2nd quarter worth $268,000. BTIM Corp. lifted its holdings in shares of Anika Therapeutics by 40.9% in the 2nd quarter. BTIM Corp. now owns 371,190 shares of the biotechnology company’s stock worth $15,077,000 after purchasing an additional 107,675 shares in the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Anika Therapeutics in the 2nd quarter worth $415,000. Institutional investors and hedge funds own 98.97% of the company’s stock.
About Anika Therapeutics
Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.
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