Anika Therapeutics Inc. (NASDAQ:ANIK)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $47.94, but opened at $48.04. Anika Therapeutics shares last traded at $48.90, with a volume of 44,779 shares trading hands.

ANIK has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research note on Monday, August 1st. Northland Securities downgraded shares of Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th.

The firm’s 50 day moving average is $51.19 and its 200 day moving average is $46.18. The stock has a market capitalization of $720.97 million and a P/E ratio of 21.30.

Anika Therapeutics (NASDAQ:ANIK) last posted 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. The firm earned $26.60 million during the quarter, compared to analyst estimates of $24.75 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Analysts anticipate that Anika Therapeutics Inc. will post $2.00 EPS for the current year.

Other institutional investors have recently bought and sold shares of the company. Royce & Associates LLC purchased a new position in Anika Therapeutics during the fourth quarter valued at $2,262,000. Russell Frank Co increased 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. Finally, Calvert Investment Management Inc. bought a new stake in Anika Therapeutics during the fourth quarter worth about $2,727,000.

Anika Therapeutics, Inc is an orthopedic medicines company. The Company offers therapeutic pain management solutions. It is engaged in developing, manufacturing and commercializing approximately 20 products based on its hyaluronic acid (HA) technology. It orthopedic medicine portfolio consists of marketed (ORTHOVISC and MONOVISC) and pipeline (CINGAL and HYALOFAST in the United States) products to alleviate pain and restore joint function by replenishing depleted HA and aiding cartilage repair and regeneration.

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