Anika Therapeutics Inc. (ANIK) Trading Down 5.4%
Anika Therapeutics Inc. (NASDAQ:ANIK) shares were down 5.4% on Thursday . The stock traded as low as $48.74 and last traded at $49.72, with a volume of 247,952 shares traded. The stock had previously closed at $52.58.
Several research analysts recently weighed in on ANIK shares. Northland Securities downgraded shares of Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 27th. Zacks Investment Research downgraded shares of Anika Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 29th.
The firm has a market capitalization of $705.32 million and a P/E ratio of 22.07. The company’s 50 day moving average price is $51.52 and its 200-day moving average price is $45.32.
Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.13. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The business earned $26.60 million during the quarter, compared to analyst estimates of $24.75 million. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. Analysts expect that Anika Therapeutics Inc. will post $1.80 earnings per share for the current year.
A number of hedge funds and institutional investors have bought and sold shares of ANIK. Russell Frank Co raised its position in Anika Therapeutics by 28.7% in the fourth quarter. Russell Frank Co now owns 64,111 shares of the company’s stock worth $2,489,000 after buying an additional 14,304 shares in the last quarter. Deere & Co. purchased a new stake in shares of Anika Therapeutics during the fourth quarter valued at $1,578,000. Finally, Royce & Associates LLC purchased a new stake in shares of Anika Therapeutics during the fourth quarter valued at $2,262,000.
Anika Therapeutics, Inc develops, manufactures and commercializes therapeutic products for tissue protection, healing and repair. The Company’s products are based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. The Company’s wholly owned subsidiary Anika S.r.l., has about 20 products commercialized primarily in Europe.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.