Anika Therapeutics Inc (NASDAQ:ANIK) – Investment analysts at Barrington Research upped their FY2018 earnings per share estimates for Anika Therapeutics in a research report issued on Thursday, October 25th. Barrington Research analyst M. Petusky now expects that the biotechnology company will post earnings of $1.67 per share for the year, up from their previous estimate of $1.55. Barrington Research has a “Outperform” rating and a $48.00 price objective on the stock. Barrington Research also issued estimates for Anika Therapeutics’ Q4 2018 earnings at $0.32 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.32 EPS and FY2020 earnings at $1.32 EPS.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, October 24th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.22. The company had revenue of $26.79 million for the quarter, compared to analyst estimates of $27.12 million. Anika Therapeutics had a return on equity of 9.78% and a net margin of 17.66%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share.

Several other brokerages have also issued reports on ANIK. Zacks Investment Research raised Anika Therapeutics from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, August 6th. ValuEngine raised Anika Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, BidaskClub lowered Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Anika Therapeutics has a consensus rating of “Buy” and an average target price of $42.00.

Shares of ANIK stock opened at $35.55 on Monday. The stock has a market cap of $518.46 million, a price-to-earnings ratio of 18.14, a PEG ratio of 2.29 and a beta of 2.04. Anika Therapeutics has a 1 year low of $28.54 and a 1 year high of $69.81.

Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Anika Therapeutics by 3.0% during the first quarter. Principal Financial Group Inc. now owns 117,585 shares of the biotechnology company’s stock worth $5,846,000 after buying an additional 3,376 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Anika Therapeutics by 11.5% during the second quarter. Baird Financial Group Inc. now owns 90,515 shares of the biotechnology company’s stock worth $2,896,000 after buying an additional 9,318 shares during the period. First Trust Advisors LP acquired a new stake in shares of Anika Therapeutics during the second quarter worth about $250,000. Gabelli Funds LLC boosted its stake in shares of Anika Therapeutics by 100.0% during the second quarter. Gabelli Funds LLC now owns 12,000 shares of the biotechnology company’s stock worth $384,000 after buying an additional 6,000 shares during the period. Finally, HL Financial Services LLC boosted its stake in shares of Anika Therapeutics by 35.5% during the second quarter. HL Financial Services LLC now owns 7,900 shares of the biotechnology company’s stock worth $253,000 after buying an additional 2,071 shares during the period. Institutional investors and hedge funds own 94.49% of the company’s stock.

About Anika Therapeutics

Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.

Featured Story: Conference Calls and Individual Investors

Earnings History and Estimates for Anika Therapeutics (NASDAQ:ANIK)

Receive News & Ratings for Anika Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anika Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.