Anika Therapeutics (NASDAQ:ANIK) Director John Henneman III Buys 5,000 Shares

Anika Therapeutics Inc. (NASDAQ:ANIK) Director John Henneman III purchased 5,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $14.66 per share, with a total value of $73,300.00. Following the acquisition, the director directly owned 54,871 shares of the company’s stock, valued at $804,408.86. This trade represents a 10.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Anika Therapeutics Stock Down 0.7%

NASDAQ:ANIK traded down $0.11 during mid-day trading on Monday, hitting $14.75. 33,368 shares of the company traded hands, compared to its average volume of 141,579. The stock’s fifty day moving average price is $14.31 and its 200-day moving average price is $11.32. Anika Therapeutics Inc. has a one year low of $7.87 and a one year high of $16.24. The firm has a market cap of $196.20 million, a price-to-earnings ratio of -18.66 and a beta of 0.16.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.34. Anika Therapeutics had a negative return on equity of 5.90% and a negative net margin of 9.52%.The firm had revenue of $29.61 million during the quarter, compared to analyst estimates of $28.14 million. Equities analysts predict that Anika Therapeutics Inc. will post -0.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Barrington Research raised their target price 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. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Anika Therapeutics has an average rating of “Hold” and a consensus target price of $17.00.

Institutional Trading of Anika Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in Anika Therapeutics by 4.0% in the 1st quarter. Hsbc Holdings PLC now owns 50,292 shares of the biotechnology company’s stock worth $729,000 after acquiring an additional 1,951 shares during the last quarter. R Squared Ltd boosted its position in shares of Anika Therapeutics by 20.7% during the 1st quarter. R Squared Ltd now owns 50,184 shares of the biotechnology company’s stock valued at $728,000 after acquiring an additional 8,603 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Anika Therapeutics by 268.7% in the first quarter. Assenagon Asset Management S.A. now owns 46,586 shares of the biotechnology company’s stock valued at $675,000 after purchasing an additional 33,951 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Anika Therapeutics by 4.3% in the fourth quarter. Corient Private Wealth LLC now owns 32,224 shares of the biotechnology company’s stock valued at $310,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Invesco Ltd. increased its position in Anika Therapeutics by 7.9% in the fourth quarter. Invesco Ltd. now owns 25,272 shares of the biotechnology company’s stock worth $243,000 after purchasing an additional 1,843 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Company Profile

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.