Barrington Research Cuts Anika Therapeutics (NASDAQ:ANIK) Price Target to $20.00

Anika Therapeutics (NASDAQ:ANIK) had its price target reduced by Barrington Research from $25.00 to $20.00 in a research note released on Thursday morning,Benzinga reports. Barrington Research currently has an outperform rating on the biotechnology company’s stock.

Anika Therapeutics Stock Performance

Shares of ANIK opened at $15.91 on Thursday. Anika Therapeutics has a 52-week low of $14.95 and a 52-week high of $29.11. The business’s fifty day moving average is $16.90 and its 200-day moving average is $19.51. The firm has a market cap of $233.02 million, a price-to-earnings ratio of -2.39 and a beta of 0.95.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $29.00 million. As a group, research analysts forecast that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Alta Fundamental Advisers LLC grew its position in Anika Therapeutics by 136.6% during the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company’s stock worth $11,529,000 after acquiring an additional 404,350 shares during the last quarter. Boothbay Fund Management LLC grew its position in Anika Therapeutics by 5.1% during the 4th quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company’s stock worth $8,716,000 after acquiring an additional 25,665 shares during the last quarter. Capital Management Corp VA grew its position in Anika Therapeutics by 12.1% during the 4th quarter. Capital Management Corp VA now owns 325,545 shares of the biotechnology company’s stock worth $5,358,000 after acquiring an additional 35,195 shares during the last quarter. Stonepine Capital Management LLC grew its position in 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 acquiring an additional 48,914 shares during the last quarter. Finally, Meros Investment Management LP grew its position in Anika Therapeutics by 11.6% during the 3rd quarter. Meros Investment Management LP now owns 237,295 shares of the biotechnology company’s stock worth $5,861,000 after acquiring an additional 24,581 shares during the last quarter. Institutional investors 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.