Shares of Anika Therapeutics Inc. (NASDAQ:ANIK) were down 5.4% during trading on Thursday . The stock traded as low as $48.74 and last traded at $49.72, with a volume of 247,952 shares changing hands. The stock had previously closed at $52.58.

Several analysts have commented on ANIK shares. Northland Securities downgraded Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th. Zacks Investment Research downgraded Anika Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 29th.

The firm has a market cap of $737.67 million and a P/E ratio of 21.79. The stock has a 50-day moving average of $51.55 and a 200-day moving average of $45.42.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.13. During the same quarter in the prior year, the business earned $0.51 earnings per share. The business had revenue of $26.60 million for the quarter, compared to analyst estimates of $24.75 million. The firm’s revenue was up 16.2% on a year-over-year basis. On average, equities analysts forecast that Anika Therapeutics Inc. will post $1.80 earnings per share for the current fiscal year.

Several hedge funds have made changes to their positions in ANIK. Russell Frank Co increased its stake in shares of Anika Therapeutics by 28.7% in the fourth quarter. Russell Frank Co now owns 64,111 shares of the company’s stock valued at $2,489,000 after buying an additional 14,304 shares in the last quarter. Royce & Associates LLC acquired a new stake in shares of Anika Therapeutics during the fourth quarter valued at $2,262,000. Finally, Deere & Co. acquired a new stake in shares of Anika Therapeutics during the fourth quarter valued at $1,578,000.

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's FREE daily email newsletter.