Anika Therapeutics (NASDAQ:ANIK) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently commented on ANIK. ValuEngine downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Zacks Investment Research upgraded shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $41.00.

Shares of NASDAQ:ANIK opened at $31.60 on Friday. The stock has a market cap of $463.93 million, a P/E ratio of 16.12 and a beta of 1.87. Anika Therapeutics has a 12 month low of $28.54 and a 12 month high of $69.81.

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

A number of hedge funds have recently modified their holdings of ANIK. Principal Financial Group Inc. grew its stake in Anika Therapeutics by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 117,585 shares of the biotechnology company’s stock worth $5,846,000 after acquiring an additional 3,376 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Anika Therapeutics in the 2nd quarter worth about $110,000. Alps Advisors Inc. bought a new position in Anika Therapeutics in the 2nd quarter worth about $453,000. First Trust Advisors LP bought a new position in Anika Therapeutics in the 2nd quarter worth about $250,000. Finally, Engineers Gate Manager LP bought a new position in Anika Therapeutics in the 2nd quarter worth about $767,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Anika Therapeutics Company Profile

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.

See Also: What is Net Asset Value (NAV)?

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.