Anika Therapeutics (NASDAQ:ANIK) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• ANIK stock crossed above its 200-day moving average, trading as high as $16.02 and last at $16.00 versus the 200-day MA of $10.94 on volume of 73,404 shares.
• Analyst views are mixed: Barrington raised its target to $17 with an "outperform" rating and Wall Street Zen upgraded to "strong-buy," while Weiss Ratings remains a "sell," leaving a consensus rating of "Hold" and an average price target of $17.00.
• Fundamentals are uneven — the company beat quarterly estimates with $0.31 EPS (vs. $0.02 expected) and $30.62M revenue, but remains unprofitable (net margin -9.64%, negative ROE) and analysts forecast -0.84 EPS for the current year.

Anika Therapeutics Inc. (NASDAQ:ANIK - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.94 and traded as high as $16.02. Anika Therapeutics shares last traded at $16.00, with a volume of 73,404 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barrington Research lifted their target price on shares of Anika Therapeutics from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Wall Street Zen raised shares of Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 7th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Anika Therapeutics in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.00.

Anika Therapeutics Stock Performance

The stock has a market cap of $214.40 million, a price-to-earnings ratio of -21.05 and a beta of 0.28. The company has a 50-day moving average of $13.50 and a 200-day moving average of $10.94.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.29. The company had revenue of $30.62 million for the quarter, compared to analysts' expectations of $28.88 million. Anika Therapeutics had a negative net margin of 9.64% and a negative return on equity of 6.26%. As a group, equities research analysts forecast that Anika Therapeutics Inc. will post -0.84 EPS for the current year.

Hedge Funds Weigh In On Anika Therapeutics

Institutional investors have recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Anika Therapeutics by 14.5% in the 4th quarter. CWM LLC now owns 8,537 shares of the biotechnology company's stock worth $82,000 after acquiring an additional 1,080 shares during the period. Corient Private Wealth LLC grew its stake in Anika Therapeutics by 4.3% in the 4th quarter. Corient Private Wealth LLC now owns 32,224 shares of the biotechnology company's stock valued at $310,000 after acquiring an additional 1,324 shares during the last quarter. Diker Management LLC grew its stake in Anika Therapeutics by 2.4% in the 4th quarter. Diker Management LLC now owns 58,210 shares of the biotechnology company's stock valued at $559,000 after acquiring an additional 1,371 shares during the last quarter. Man Group plc grew its stake in Anika Therapeutics by 11.4% in the 3rd quarter. Man Group plc now owns 14,778 shares of the biotechnology company's stock valued at $139,000 after acquiring an additional 1,510 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Anika Therapeutics by 5.2% in the 4th quarter. Cerity Partners LLC now owns 31,775 shares of the biotechnology company's stock valued at $305,000 after acquiring an additional 1,575 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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.

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