Connor Clark & Lunn Investment Management Ltd. Acquires 8,573 Shares of Anika Therapeutics Inc. $ANIK

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Anika Therapeutics Inc. (NASDAQ:ANIK) by 24.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,994 shares of the biotechnology company’s stock after buying an additional 8,573 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.30% of Anika Therapeutics worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ANIK. Atria Investments Inc raised its holdings in shares of Anika Therapeutics by 19.3% in the 2nd quarter. Atria Investments Inc now owns 13,096 shares of the biotechnology company’s stock worth $139,000 after acquiring an additional 2,118 shares during the last quarter. American Century Companies Inc. increased its holdings in Anika Therapeutics by 11.2% during the 1st quarter. American Century Companies Inc. now owns 33,252 shares of the biotechnology company’s stock worth $500,000 after purchasing an additional 3,361 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Anika Therapeutics by 57.1% in the first quarter. HighTower Advisors LLC now owns 20,971 shares of the biotechnology company’s stock worth $315,000 after purchasing an additional 7,618 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Anika Therapeutics in the first quarter valued at approximately $152,000. Finally, Deutsche Bank AG lifted its holdings in shares of Anika Therapeutics by 14.4% in the first quarter. Deutsche Bank AG now owns 85,259 shares of the biotechnology company’s stock valued at $1,281,000 after purchasing an additional 10,760 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barrington Research lifted their price objective on shares of Anika Therapeutics from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Anika Therapeutics in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Anika Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Anika Therapeutics Trading Down 2.3%

Shares of Anika Therapeutics stock opened at $9.30 on Friday. The business’s fifty day simple moving average is $9.41 and its 200 day simple moving average is $10.17. The firm has a market capitalization of $134.12 million, a P/E ratio of -2.24 and a beta of 0.61. Anika Therapeutics Inc. has a 12 month low of $7.87 and a 12 month high of $18.37.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Anika Therapeutics had a negative return on equity of 10.97% and a negative net margin of 48.99%.The firm had revenue of $27.82 million during the quarter, compared to the consensus estimate of $27.80 million. Analysts predict that Anika Therapeutics Inc. will post -0.84 EPS for the current fiscal year.

Anika Therapeutics 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.