Anika Therapeutics Inc. (ANIK) Rating Lowered to Hold at Zacks Investment Research
Anika Therapeutics Inc. (NASDAQ:ANIK) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products and devices that promote the repair, protection and healing of bone, cartilage and soft tissue. These products are based on hyaluronic acid, a naturally-occurring, biocompatible polymer found in the body. Due to its unique properties, hyaluronic acid plays an important role in numerous physiological functions such as the protection and lubrication of soft tissues and joints, the maintenance of the structural integrity of tissues and the transport of molecules to and within cells. “
Shares of Anika Therapeutics (NASDAQ:ANIK) opened at 46.58 on Tuesday. Anika Therapeutics has a 1-year low of $32.76 and a 1-year high of $54.96. The company has a market cap of $688.31 million, a PE ratio of 20.33 and a beta of 1.49. The company has a 50-day moving average price of $47.44 and a 200-day moving average price of $48.11.
Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.13. The company had revenue of $26.60 million for the quarter, compared to analysts’ expectations of $24.75 million. Anika Therapeutics had a return on equity of 17.24% and a net margin of 33.77%. Anika Therapeutics’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Equities research analysts expect that Anika Therapeutics will post $2.00 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ANIK. Teacher Retirement System of Texas boosted its position in shares of Anika Therapeutics by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,037 shares of the company’s stock valued at $109,000 after buying an additional 252 shares during the last quarter. BlackRock Inc. boosted its position in shares of Anika Therapeutics by 99.0% in the second quarter. BlackRock Inc. now owns 2,032 shares of the company’s stock valued at $109,000 after buying an additional 1,011 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Anika Therapeutics during the second quarter valued at about $150,000. Paloma Partners Management Co bought a new position in shares of Anika Therapeutics during the second quarter valued at about $233,000. Finally, Bank of Montreal Can bought a new position in shares of Anika Therapeutics during the second quarter valued at about $247,000. 77.84% of the stock is currently owned by institutional investors.
Anika Therapeutics Company Profile
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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