Anika Therapeutics Inc. (NASDAQ:ANIK) gapped down before the market opened on Monday . The stock had previously closed at $48.54, but opened at $48.79. Anika Therapeutics shares last traded at $49.72, with a volume of 70,482 shares.

A number of equities research analysts have recently weighed in on ANIK shares. Zacks Investment Research upgraded 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. Northland Securities lowered Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th.

The firm has a market cap of $732.94 million and a price-to-earnings ratio of 21.65. The firm has a 50 day moving average price of $51.15 and a 200 day moving average price of $46.41.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.13. During the same period in the previous year, the company posted $0.51 EPS. The firm had revenue of $26.60 million for the quarter, compared to analyst estimates of $24.75 million. Anika Therapeutics’s revenue was up 16.2% on a year-over-year basis. Equities research analysts forecast that Anika Therapeutics Inc. will post $2.00 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the company. Calvert Investment Management Inc. purchased a new position in Anika Therapeutics during the fourth quarter valued at about $2,727,000. Royce & Associates LLC purchased a new position in Anika Therapeutics during the fourth quarter valued at about $2,262,000. Finally, Russell Frank Co raised its position in Anika Therapeutics by 28.7% in the fourth quarter. Russell Frank Co now owns 64,111 shares of the company’s stock valued at $2,489,000 after buying an additional 14,304 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.