Anika Therapeutics (NASDAQ:ANIK) Shares Pass Above Two Hundred Day Moving Average of $23.54

Anika Therapeutics, Inc. (NASDAQ:ANIK) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.54 and traded as high as $28.67. Anika Therapeutics shares last traded at $28.47, with a volume of 59,455 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Stephens reaffirmed an “equal weight” rating and set a $22.00 price target on shares of Anika Therapeutics in a report on Thursday, March 14th. Finally, Barrington Research lifted their price objective on shares of Anika Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th.

Anika Therapeutics Trading Up 0.4 %

The firm has a 50-day moving average of $25.83 and a two-hundred day moving average of $23.54. The firm has a market capitalization of $422.15 million, a P/E ratio of -5.04, a P/E/G ratio of 2.46 and a beta of 0.74.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, March 13th. The biotechnology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.20. The firm had revenue of $42.97 million during the quarter, compared to the consensus estimate of $41.51 million. Anika Therapeutics had a negative return on equity of 2.10% and a negative net margin of 49.60%. On average, sell-side analysts anticipate that Anika Therapeutics, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Anika Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in Anika Therapeutics during the 3rd quarter worth $944,000. GSA Capital Partners LLP bought a new stake in shares of Anika Therapeutics during the third quarter worth about $962,000. Acadian Asset Management LLC increased its stake in shares of Anika Therapeutics by 184.5% in the third quarter. Acadian Asset Management LLC now owns 336,058 shares of the biotechnology company’s stock valued at $6,255,000 after buying an additional 217,915 shares during the period. Hsbc Holdings PLC bought a new position in Anika Therapeutics in the 3rd quarter valued at approximately $209,000. Finally, Capital Management Corp VA boosted its position in Anika Therapeutics by 322.1% during the 4th quarter. Capital Management Corp VA now owns 355,534 shares of the biotechnology company’s stock worth $8,056,000 after buying an additional 271,309 shares during the period. Institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.