Anika Therapeutics (NASDAQ:ANIK) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Shares of Anika Therapeutics crossed above its 200‑day moving average
• Analyst views are mixed but mildly positive: MarketBeat's consensus is a Moderate Buy with a $19 target, while recent notes range from Weiss Ratings' "sell" to Wall Street Zen's upgrade to "strong‑buy" and Barrington raising its target to $17.
• Fundamentals are mixed—quarterly results beat estimates (Q revenue $30.62M and EPS $0.31) but the company remains unprofitable (net margin ~‑9.6%, expected full‑year EPS ‑0.84), and institutional investors hold about 91.5% of the shares.

Shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.68 and traded as high as $15.48. Anika Therapeutics shares last traded at $15.22, with a volume of 87,558 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ANIK shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Anika Therapeutics in a research report on Monday, December 29th. Wall Street Zen raised shares of Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 7th. Finally, Barrington Research boosted their price target on shares of Anika Therapeutics from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Anika Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Anika Therapeutics Trading Up 0.1%

The stock's 50 day moving average price is $12.88 and its 200 day moving average price is $10.68. The company has a market capitalization of $203.96 million, a price-to-earnings ratio of -20.03 and a beta of 0.28.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ANIK. Opaleye Management Inc. grew its position in shares of Anika Therapeutics by 49.1% in the 2nd quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company's stock valued at $6,229,000 after acquiring an additional 193,797 shares during the period. Capital Management Corp VA grew its position in shares of Anika Therapeutics by 34.8% in the 3rd quarter. Capital Management Corp VA now owns 551,248 shares of the biotechnology company's stock valued at $5,182,000 after acquiring an additional 142,403 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Anika Therapeutics by 153.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 164,926 shares of the biotechnology company's stock valued at $1,585,000 after acquiring an additional 99,951 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Anika Therapeutics by 78.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company's stock valued at $1,880,000 after acquiring an additional 85,771 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Anika Therapeutics by 171.0% in the 4th quarter. Jane Street Group LLC now owns 134,768 shares of the biotechnology company's stock valued at $1,295,000 after acquiring an additional 85,029 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.