Barrington Research Cuts Anika Therapeutics (NASDAQ:ANIK) Price Target to $19.00

Anika Therapeutics (NASDAQ:ANIK) had its price objective lowered by equities researchers at Barrington Research from $20.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price target would indicate a potential upside of 53.10% from the stock’s current price.

A number of other research analysts also recently weighed in on ANIK. B. Riley started coverage on Anika Therapeutics in a research note on Thursday, April 17th. They issued a “buy” rating and a $21.00 price objective on the stock. StockNews.com raised Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

Anika Therapeutics Price Performance

Shares of ANIK stock opened at $12.41 on Monday. Anika Therapeutics has a fifty-two week low of $11.48 and a fifty-two week high of $29.12. The stock’s 50-day moving average is $14.60 and its two-hundred day moving average is $16.31. The firm has a market cap of $177.97 million, a P/E ratio of -1.87 and a beta of 0.76.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $29.00 million. Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. As a group, research analysts expect that Anika Therapeutics will post -0.84 EPS 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. Alta Fundamental Advisers LLC grew its holdings in Anika Therapeutics by 136.6% in the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company’s stock valued at $11,529,000 after buying an additional 404,350 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Anika Therapeutics in the 4th quarter valued at approximately $1,958,000. JPMorgan Chase & Co. grew its holdings in Anika Therapeutics by 431.9% in the 4th quarter. JPMorgan Chase & Co. now owns 82,491 shares of the biotechnology company’s stock valued at $1,358,000 after buying an additional 66,982 shares during the last quarter. Stonepine Capital Management LLC grew its holdings in shares of Anika Therapeutics by 25.8% during the 4th quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company’s stock worth $3,921,000 after purchasing an additional 48,914 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Anika Therapeutics during the 1st quarter worth approximately $621,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Anika Therapeutics

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.