Shares of Anika Therapeutics Inc. (NASDAQ:ANIK) saw unusually-strong trading volume on Monday . Approximately 285,675 shares changed hands during trading, an increase of 114% from the previous session’s volume of 133,717 shares.The stock last traded at $50.47 and had previously closed at $49.92.

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

The company’s 50 day moving average price is $51.59 and its 200-day moving average price is $45.63. The stock has a market capitalization of $748.31 million and a P/E ratio of 22.10.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.44 by $0.13. The firm had revenue of $26.60 million for the quarter, compared to analysts’ expectations of $24.75 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities analysts forecast that Anika Therapeutics Inc. will post $1.84 EPS for the current year.

Other hedge funds and institutional investors recently made changes to their positions in the company. Russell Frank Co increased its position 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 in the last quarter. Royce & Associates LLC bought a new position in shares of Anika Therapeutics during the fourth quarter worth about $2,262,000. Finally, Deere & Co. bought a new position in shares of Anika Therapeutics during the fourth quarter worth about $1,578,000.

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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