Quantinno Capital Management LP Buys 24,277 Shares of Anika Therapeutics Inc. $ANIK

Quantinno Capital Management LP grew its stake in Anika Therapeutics Inc. (NASDAQ:ANIK) by 23.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 125,826 shares of the biotechnology company’s stock after buying an additional 24,277 shares during the period. Quantinno Capital Management LP’s holdings in Anika Therapeutics were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP lifted its stake in shares of Anika Therapeutics by 192.4% in the fourth quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock valued at $1,173,000 after buying an additional 80,319 shares during the period. Assenagon Asset Management S.A. grew its position in Anika Therapeutics by 268.7% during the first quarter. Assenagon Asset Management S.A. now owns 46,586 shares of the biotechnology company’s stock worth $675,000 after buying an additional 33,951 shares in the last quarter. Indivisible Partners bought a new position in Anika Therapeutics during the fourth quarter valued at about $484,000. Hsbc Holdings PLC bought a new position in Anika Therapeutics during the fourth quarter valued at about $464,000. Finally, Hillsdale Investment Management Inc. acquired a new position in Anika Therapeutics in the 1st quarter valued at approximately $368,000. Institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

Anika Therapeutics Trading Up 2.7%

Shares of ANIK opened at $21.23 on Wednesday. The stock has a market cap of $284.06 million, a PE ratio of -78.63, a PEG ratio of 14.77 and a beta of 0.20. Anika Therapeutics Inc. has a 1 year low of $8.15 and a 1 year high of $22.88. The stock has a 50 day simple moving average of $15.96 and a 200-day simple moving average of $14.32.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 EPS for the quarter, beating the consensus estimate 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 business had revenue of $32.61 million for the quarter, compared to analyst estimates of $29.21 million. On average, sell-side analysts forecast that Anika Therapeutics Inc. will post 0.14 EPS for the current fiscal year.

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.