Insider Buying: Anika Therapeutics (NASDAQ:ANIK) Director Acquires $20,750.00 in Stock

Anika Therapeutics Inc. (NASDAQ:ANIK) Director Gary Fischetti purchased 1,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were acquired at an average price of $20.75 per share, for a total transaction of $20,750.00. Following the completion of the purchase, the director directly owned 53,015 shares of the company’s stock, valued at approximately $1,100,061.25. This trade represents a 1.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Anika Therapeutics Stock Performance

NASDAQ ANIK opened at $21.42 on Friday. The firm has a 50 day simple moving average of $15.70 and a 200-day simple moving average of $14.13. Anika Therapeutics Inc. has a one year low of $7.92 and a one year high of $21.55. The firm has a market cap of $286.60 million, a price-to-earnings ratio of -79.33, a PEG ratio of 14.40 and a beta of 0.20.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.39. The firm had revenue of $32.61 million for the quarter, compared to the consensus estimate of $29.21 million. Anika Therapeutics had a negative net margin of 3.14% and a positive return on equity of 0.20%. Equities analysts predict that Anika Therapeutics Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANIK. Barrington Research set a $21.00 price objective on Anika Therapeutics in a research note on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a report on Wednesday, June 24th. B. Riley Financial boosted their target price on Anika Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, Zacks Research raised Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Institutional Investors Weigh In On Anika Therapeutics

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Anika Therapeutics during the 2nd quarter worth about $21,209,000. Deutsche Bank AG acquired a new stake in shares of Anika Therapeutics during the 2nd quarter worth about $5,172,000. Opaleye Management Inc. raised its position in shares of Anika Therapeutics by 49.1% during the 2nd quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock worth $6,229,000 after acquiring an additional 193,797 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Anika Therapeutics by 153.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,926 shares of the biotechnology company’s stock worth $1,585,000 after acquiring an additional 99,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Anika Therapeutics by 78.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock worth $1,880,000 after purchasing an additional 85,771 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

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.