Anika Therapeutics (NASDAQ:ANIK) Stock Passes Above 200-Day Moving Average – What’s Next?

Anika Therapeutics Inc. (NASDAQ:ANIK)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.55 and traded as high as $14.51. Anika Therapeutics shares last traded at $14.20, with a volume of 92,777 shares changing hands.

Wall Street Analyst Weigh In

ANIK has been the topic of a number of research analyst reports. Wall Street Zen downgraded Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Barrington Research lifted their price target on Anika Therapeutics from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.00.

Anika Therapeutics Stock Down 1.5%

The company’s fifty day moving average price is $14.81 and its 200-day moving average price is $12.55. The stock has a market capitalization of $189.00 million, a PE ratio of -17.97 and a beta of 0.23.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.34. The company had revenue of $29.61 million for the quarter, compared to the consensus estimate of $28.14 million. Anika Therapeutics had a negative return on equity of 5.90% and a negative net margin of 9.52%. Equities research analysts anticipate that Anika Therapeutics Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at Anika Therapeutics

In related news, CEO Stephen D. Griffin bought 12,200 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were acquired at an average cost of $12.29 per share, with a total value of $149,938.00. Following the completion of the acquisition, the chief executive officer owned 36,163 shares of the company’s stock, valued at $444,443.27. The trade was a 50.91% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Henneman III bought 5,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was bought at an average cost of $14.66 per share, for a total transaction of $73,300.00. Following the completion of the purchase, the director owned 54,871 shares of the company’s stock, valued at approximately $804,408.86. The trade was a 10.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 12.08% of the company’s stock.

Institutional Trading of Anika Therapeutics

Institutional investors have recently bought and sold shares of the company. Quantinno Capital Management LP lifted its position in Anika Therapeutics by 23.9% in the 1st quarter. Quantinno Capital Management LP now owns 125,826 shares of the biotechnology company’s stock valued at $1,824,000 after acquiring an additional 24,277 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Anika Therapeutics by 51.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 23,614 shares of the biotechnology company’s stock valued at $342,000 after purchasing an additional 8,022 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Anika Therapeutics in the 1st quarter worth $368,000. Hsbc Holdings PLC increased its holdings in shares of Anika Therapeutics by 4.0% in the 1st quarter. Hsbc Holdings PLC now owns 50,292 shares of the biotechnology company’s stock worth $729,000 after purchasing an additional 1,951 shares in the last quarter. Finally, R Squared Ltd raised its stake in shares of Anika Therapeutics by 20.7% in the first quarter. R Squared Ltd now owns 50,184 shares of the biotechnology company’s stock worth $728,000 after purchasing an additional 8,603 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

About Anika Therapeutics

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.