Anika Therapeutics (NASDAQ:ANIK) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Anika Therapeutics Inc. (NASDAQ:ANIK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.65 and traded as high as $15.39. Anika Therapeutics shares last traded at $14.91, with a volume of 71,160 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANIK shares. Barrington Research lifted their price target on shares of Anika Therapeutics from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen cut Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.00.

Anika Therapeutics Price Performance

The firm has a 50-day moving average of $14.72 and a 200 day moving average of $11.65. The company has a market capitalization of $198.45 million, a PE ratio of -18.87 and a beta of 0.16.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.34. The business had revenue of $29.61 million during the quarter, compared to analyst estimates of $28.14 million. Anika Therapeutics had a negative return on equity of 5.90% and a negative net margin of 9.52%. Equities analysts expect that Anika Therapeutics Inc. will post -0.74 EPS for the current year.

Insider Activity at Anika Therapeutics

In related news, Director John B. Henneman III bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $14.66 per share, for a total transaction of $73,300.00. Following the completion of the acquisition, the director owned 54,871 shares of the company’s stock, valued at $804,408.86. This trade represents a 10.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen D. Griffin bought 12,200 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was bought at an average cost of $12.29 per share, with a total value of $149,938.00. Following the transaction, the chief executive officer owned 36,163 shares in the company, valued at $444,443.27. This trade represents a 50.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 12.08% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Anika Therapeutics by 526.6% during the 3rd quarter. CWM LLC now owns 7,457 shares of the biotechnology company’s stock valued at $70,000 after purchasing an additional 6,267 shares during the period. Quarry LP bought a new stake in Anika Therapeutics during the third quarter valued at approximately $71,000. Ieq Capital LLC purchased a new stake in Anika Therapeutics during the fourth quarter valued at approximately $97,000. Occudo Quantitative Strategies LP bought a new position in Anika Therapeutics in the third quarter worth approximately $95,000. Finally, Williams & Novak LLC purchased a new position in shares of Anika Therapeutics during the 3rd quarter worth $102,000. Institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.