Anika Therapeutics (NASDAQ:ANIK) Director Gary Fischetti Purchases 1,000 Shares

Anika Therapeutics Inc. (NASDAQ:ANIK) Director Gary Fischetti acquired 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were purchased at an average price of $20.75 per share, with a total value of $20,750.00. Following the completion of the transaction, the director owned 53,015 shares of the company’s stock, valued at $1,100,061.25. This trade represents a 1.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Anika Therapeutics Stock Down 2.1%

ANIK stock opened at $19.19 on Thursday. The firm has a market cap of $256.76 million, a price-to-earnings ratio of -71.07 and a beta of 0.20. The company’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $14.00. Anika Therapeutics Inc. has a 12-month low of $7.92 and a 12-month high of $21.11.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.39. The firm had revenue of $32.61 million during the quarter, compared to analyst estimates of $29.21 million. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%. Research analysts expect that Anika Therapeutics Inc. will post -0.74 earnings per share for the current year.

Institutional Trading of Anika Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANIK. Quarry LP purchased a new position in shares of Anika Therapeutics during the third quarter valued at approximately $71,000. CWM LLC grew its stake in shares of Anika Therapeutics by 14.5% in the 4th quarter. CWM LLC now owns 8,537 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 1,080 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Anika Therapeutics in the third quarter valued at about $95,000. Ieq Capital LLC bought a new position in shares of Anika Therapeutics during the fourth quarter valued at about $97,000. Finally, Tudor Investment Corp ET AL purchased a new position in Anika Therapeutics during the third quarter worth about $107,000. 91.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ANIK. Wall Street Zen raised shares of Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. Barrington Research set a $21.00 price objective on shares of Anika Therapeutics in a research report on Thursday, July 30th. Finally, B. Riley Financial boosted their target price on Anika Therapeutics from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.00.

About Anika Therapeutics

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.