Ieq Capital LLC Buys Shares of 33,466 Anika Therapeutics Inc. $ANIK

Ieq Capital LLC bought a new stake in shares of Anika Therapeutics Inc. (NASDAQ:ANIK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,466 shares of the biotechnology company’s stock, valued at approximately $490,000. Ieq Capital LLC owned about 0.25% of Anika Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ANIK. Meeder Asset Management Inc. bought a new stake in shares of Anika Therapeutics in the 2nd quarter worth approximately $37,000. Quarry LP bought a new position in Anika Therapeutics during the 3rd quarter worth $71,000. CWM LLC grew its stake in Anika Therapeutics by 14.5% during the 4th quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock worth $82,000 after buying an additional 1,080 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Anika Therapeutics in the third quarter worth $95,000. Finally, AQR Capital Management LLC acquired a new stake in Anika Therapeutics in the first quarter worth $181,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANIK has been the subject of several analyst reports. Wall Street Zen raised shares of Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Zacks Research raised shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. B. Riley Financial lifted their price objective on shares of Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. Finally, Barrington Research set a $21.00 target price on shares of Anika Therapeutics in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Anika Therapeutics Price Performance

Shares of NASDAQ:ANIK opened at $21.10 on Friday. Anika Therapeutics Inc. has a 12 month low of $8.37 and a 12 month high of $22.88. The stock has a market cap of $282.32 million, a price-to-earnings ratio of -78.15, a PEG ratio of 14.89 and a beta of 0.20. The stock’s 50 day moving average price is $17.74 and its 200 day moving average price is $15.36.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.39. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%.The firm had revenue of $32.61 million during the quarter, compared to analyst estimates of $29.21 million. On average, sell-side analysts expect that Anika Therapeutics Inc. will post 0.14 EPS for the current year.

Anika Therapeutics 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.