StockNews.com Downgrades Anika Therapeutics (NASDAQ:ANIK) to Hold

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a report issued on Monday.

A number of other equities research analysts have also recently weighed in on ANIK. B. Riley started coverage on Anika Therapeutics in a report on Thursday, April 17th. They set a "buy" rating and a $21.00 price target for the company. Barrington Research lowered their target price on Anika Therapeutics from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Monday.

Anika Therapeutics Price Performance

Shares of ANIK traded down $0.05 during trading hours on Monday, hitting $12.19. The stock had a trading volume of 75,082 shares, compared to its average volume of 70,031. The stock has a market capitalization of $174.82 million, a price-to-earnings ratio of -1.83 and a beta of 0.76. The company's fifty day moving average is $14.41 and its two-hundred day moving average is $16.19. Anika Therapeutics has a 52 week low of $11.11 and a 52 week high of $29.12.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.13). Anika Therapeutics had a negative return on equity of 2.22% and a negative net margin of 59.40%. The firm had revenue of $30.60 million for the quarter, compared to the consensus estimate of $29.00 million. Equities analysts predict that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Trading of Anika Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alta Fundamental Advisers LLC lifted its holdings in Anika Therapeutics by 136.6% during the 4th quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company's stock worth $11,529,000 after buying an additional 404,350 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Anika Therapeutics during the fourth quarter valued at $1,958,000. Cove Street Capital LLC bought a new position in Anika Therapeutics in the first quarter valued at about $1,126,000. JPMorgan Chase & Co. boosted its holdings in Anika Therapeutics by 431.9% in the fourth quarter. JPMorgan Chase & Co. now owns 82,491 shares of the biotechnology company's stock valued at $1,358,000 after acquiring an additional 66,982 shares during the last quarter. Finally, Stonepine Capital Management LLC increased its position in Anika Therapeutics by 25.8% in the fourth quarter. Stonepine Capital Management LLC now owns 238,222 shares of the biotechnology company's stock worth $3,921,000 after purchasing an additional 48,914 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.

About Anika Therapeutics

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.