Anika Therapeutics (NASDAQ:ANIK) Upgraded at B. Riley

B. Riley upgraded shares of Anika Therapeutics (NASDAQ:ANIK) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

ANIK has been the subject of a number of other reports. Barrington Research cut their price target on Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. StockNews.com upgraded Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

Anika Therapeutics Stock Up 4.1 %

NASDAQ ANIK opened at $14.02 on Wednesday. The company has a market cap of $198.75 million, a PE ratio of -2.11 and a beta of 0.82. Anika Therapeutics has a 52 week low of $12.83 and a 52 week high of $29.12. The firm’s 50-day simple moving average is $15.79 and its two-hundred day simple moving average is $17.65.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. The business had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $29.00 million. As a group, equities research analysts anticipate that Anika Therapeutics will post -0.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in Anika Therapeutics by 54.1% during the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 8,550 shares during the period. HighTower Advisors LLC raised its holdings in shares of Anika Therapeutics by 11.3% in the 3rd quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock valued at $387,000 after acquiring an additional 1,615 shares in the last quarter. Barclays PLC raised its holdings in shares of Anika Therapeutics by 66.6% in the 3rd quarter. Barclays PLC now owns 32,664 shares of the biotechnology company’s stock valued at $806,000 after acquiring an additional 13,054 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Anika Therapeutics by 3.7% during the fourth quarter. Wellington Management Group LLP now owns 39,785 shares of the biotechnology company’s stock worth $655,000 after purchasing an additional 1,407 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Anika Therapeutics by 20.8% in the fourth quarter. Bank of New York Mellon Corp now owns 50,529 shares of the biotechnology company’s stock worth $832,000 after purchasing an additional 8,711 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.