Anika Therapeutics Inc. (NASDAQ:ANIK)’s share price dropped 2.2% on Wednesday . The stock traded as low as $47.82 and last traded at $47.91, with a volume of 103,496 shares changing hands. The stock had previously closed at $49.00.

ANIK has been the topic of several research reports. Northland Securities lowered shares of Anika Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 27th. Zacks Investment Research lowered shares of Anika Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, April 29th.

The firm has a 50 day moving average price of $51.53 and a 200-day moving average price of $45.73. The firm has a market cap of $710.77 million and a P/E ratio of 21.00.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.13. The business earned $26.60 million during the quarter, compared to analysts’ expectations of $24.75 million. During the same quarter in the previous year, the business earned $0.51 EPS. Anika Therapeutics’s revenue for the quarter was up 16.2% compared to the same quarter last year. Equities research analysts expect that Anika Therapeutics Inc. will post $1.84 earnings per share for the current fiscal year.

Other large investors have recently made changes to their positions in the company. Royce & Associates LLC purchased a new stake in shares of Anika Therapeutics during the fourth quarter worth about $2,262,000. Deere & Co. purchased a new stake in shares of Anika Therapeutics during the fourth quarter worth about $1,578,000. Finally, Russell Frank Co raised 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 worth $2,489,000 after buying an additional 14,304 shares during the period.

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.

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