Anika Therapeutics’ (ANIK) Buy Rating Reiterated at B. Riley Financial

Anika Therapeutics (NASDAQ:ANIK)‘s stock had its “buy” rating reissued by analysts at B. Riley Financial in a research report issued on Friday, Benzinga reports. They presently have a $23.00 price objective on the biotechnology company’s stock, up from their prior price objective of $21.00. B. Riley Financial’s target price points to a potential upside of 9.37% from the company’s previous close.

A number of other research firms also recently issued reports on ANIK. Zacks Research upgraded Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. 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. Barrington Research set a $21.00 price objective on shares of Anika Therapeutics in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Anika Therapeutics Trading Up 0.9%

Shares of ANIK opened at $21.03 on Friday. Anika Therapeutics has a 1-year low of $8.67 and a 1-year high of $22.88. The firm’s 50-day moving average price is $19.36 and its 200-day moving average price is $16.39. The firm has a market capitalization of $281.38 million, a price-to-earnings ratio of -77.89, a PEG ratio of 14.89 and a beta of 0.20.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.03 by $0.39. Anika Therapeutics had a negative net margin of 3.14% and a positive return on equity of 0.20%. The business had revenue of $32.61 million during the quarter, compared to analyst estimates of $29.21 million. On average, research analysts forecast that Anika Therapeutics will post 0.14 EPS for the current fiscal year.

Institutional Trading of Anika Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Diker Management LLC boosted its holdings in Anika Therapeutics by 2.4% in the 4th quarter. Diker Management LLC now owns 58,210 shares of the biotechnology company’s stock worth $559,000 after buying an additional 1,371 shares during the period. Hsbc Holdings PLC grew its position in shares of Anika Therapeutics by 4.0% during the first quarter. Hsbc Holdings PLC now owns 50,292 shares of the biotechnology company’s stock worth $729,000 after purchasing an additional 1,951 shares in the last quarter. Corient Private Wealth LP raised its stake in Anika Therapeutics by 6.6% during the 2nd quarter. Corient Private Wealth LP now owns 35,415 shares of the biotechnology company’s stock valued at $518,000 after purchasing an additional 2,192 shares during the period. Meeder Asset Management Inc. bought a new stake in Anika Therapeutics during the 2nd quarter valued at approximately $37,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Anika Therapeutics by 51.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 23,614 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 8,022 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

About Anika Therapeutics

Anika Therapeutics, Inc is a medical technology company focused on developing, manufacturing and commercializing products for joint health, regenerative medicine and surgical care. The company uses hyaluronic acid and other biomaterials to create therapies designed to support tissue repair, reduce pain and improve patient outcomes.

Anika’s portfolio includes viscosupplementation products for osteoarthritis, such as ORTHOVISC, MONOVISC and CINGAL, which are administered by injection into the knee and other joints.