Anika Therapeutics (NASDAQ:ANIK) Lowered to Market Perform at Barrington Research

Barrington Research cut shares of Anika Therapeutics (NASDAQ:ANIK – Get Rating) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday, The Fly reports.

Anika Therapeutics Trading Down 10.3 %

NASDAQ ANIK opened at $25.91 on Tuesday. The stock has a 50-day simple moving average of $30.60 and a 200 day simple moving average of $28.07. The company has a market capitalization of $378.55 million, a PE ratio of -23.77 and a beta of 0.86. Anika Therapeutics has a 12 month low of $19.95 and a 12 month high of $32.51.

Institutional Investors Weigh In On Anika Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its holdings in Anika Therapeutics by 4.4% in the second quarter. Renaissance Technologies LLC now owns 705,817 shares of the biotechnology company’s stock valued at $15,754,000 after purchasing an additional 29,600 shares during the last quarter. Trigran Investments Inc. increased its holdings in shares of Anika Therapeutics by 29.3% in the third quarter. Trigran Investments Inc. now owns 1,492,092 shares of the biotechnology company’s stock worth $35,512,000 after acquiring an additional 337,909 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Anika Therapeutics in the second quarter worth about $220,000. Victory Capital Management Inc. increased its holdings in shares of Anika Therapeutics by 4.7% in the second quarter. Victory Capital Management Inc. now owns 13,866 shares of the biotechnology company’s stock worth $309,000 after acquiring an additional 622 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Anika Therapeutics by 826.9% in the first quarter. Goldman Sachs Group Inc. now owns 100,917 shares of the biotechnology company’s stock worth $2,534,000 after acquiring an additional 90,029 shares in the last quarter. Institutional investors own 91.57% of the company’s stock.

About Anika Therapeutics

(Get Rating)

Anika Therapeutics, Inc is an orthopedic and regenerative medicines company, which develops, manufactures and commercializes therapeutic products for pain management, tissue regeneration, and wound healing. Its products are based on hyaluronic acid, a natural chemical occurring, biocompatible polymer found throughout the body.