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

A number of research firms recently weighed in on ANIK. Zacks Investment Research raised Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $58.00 price target for the company in a report on Monday. Northland Securities cut Anika Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 27th.

The stock has a market capitalization of $718.01 million and a price-to-earnings ratio of 21.21. The company’s 50-day moving average price is $51.48 and its 200 day moving average price is $45.74.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.13. The firm had revenue of $26.60 million for the quarter, compared to analyst estimates of $24.75 million. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Equities analysts expect that Anika Therapeutics Inc. will post $1.84 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of ANIK. Deere & Co. purchased a new stake in Anika Therapeutics during the fourth quarter worth approximately $1,578,000. Royce & Associates LLC purchased a new stake in Anika Therapeutics during the fourth quarter worth approximately $2,262,000. Finally, Russell Frank Co boosted its stake 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 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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