Anika Therapeutics Inc. (NASDAQ:ANIK) shares fell 0.8% during mid-day trading on Monday . The company traded as low as $47.91 and last traded at $47.98, with a volume of 67,547 shares. The stock had previously closed at $48.36.

Separately, Zacks Investment Research upgraded shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research note on Monday, August 1st.

The company has a market cap of $709.15 million and a P/E ratio of 20.95. The firm has a 50-day moving average of $50.20 and a 200 day moving average of $47.22.

Anika Therapeutics (NASDAQ:ANIK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.13. The company had revenue of $26.60 million for the quarter, compared to the consensus estimate of $24.75 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Equities research analysts anticipate that Anika Therapeutics Inc. will post $2.00 EPS for the current fiscal year.

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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