Anika Therapeutics (NASDAQ:ANIK) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Anika Therapeutics Inc. (NASDAQ:ANIK) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.21 and traded as high as $14.84. Anika Therapeutics shares last traded at $14.60, with a volume of 53,845 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barrington Research lifted their price objective on shares of Anika Therapeutics from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Wall Street Zen lowered shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Anika Therapeutics Price Performance

The firm has a market cap of $194.33 million, a price-to-earnings ratio of -18.48 and a beta of 0.23. The business’s 50-day moving average price is $14.85 and its two-hundred day moving average price is $12.21.

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

Insiders Place Their Bets

In other Anika Therapeutics news, CEO Stephen D. Griffin acquired 12,200 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of $12.29 per share, with a total value of $149,938.00. Following the completion of the acquisition, the chief executive officer directly owned 36,163 shares in the company, valued at $444,443.27. This trade represents a 50.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John B. Henneman III acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $14.66 per share, with a total value of $73,300.00. Following the acquisition, the director owned 54,871 shares of the company’s stock, valued at $804,408.86. This trade represents a 10.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 12.08% of the company’s stock.

Hedge Funds Weigh In On Anika Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP lifted its stake in Anika Therapeutics by 192.4% in the fourth quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock valued at $1,173,000 after buying an additional 80,319 shares during the last quarter. Indivisible Partners bought a new stake in Anika Therapeutics in the fourth quarter valued at $484,000. Strs Ohio lifted its stake in Anika Therapeutics by 12.2% in the fourth quarter. Strs Ohio now owns 15,600 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 1,700 shares during the last quarter. Objectivity Squared LLC bought a new stake in Anika Therapeutics in the fourth quarter valued at $303,000. Finally, R Squared Ltd lifted its stake in Anika Therapeutics by 141.7% in the fourth quarter. R Squared Ltd now owns 41,581 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 24,375 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.