Barrington Research Lowers Anika Therapeutics (NASDAQ:ANIK) Price Target to $19.00

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) had its price objective dropped by equities research analysts at Barrington Research from $20.00 to $19.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Barrington Research's target price indicates a potential upside of 55.87% from the stock's current price.

ANIK has been the topic of a number of other research reports. StockNews.com raised shares of Anika Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. B. Riley initiated coverage on shares of Anika Therapeutics in a report on Thursday, April 17th. They issued a "buy" rating and a $21.00 price target on the stock.

Anika Therapeutics Price Performance

Shares of ANIK stock traded down $0.05 on Monday, reaching $12.19. 75,082 shares of the company were exchanged, compared to its average volume of 70,170. The company has a market cap of $174.82 million, a price-to-earnings ratio of -1.83 and a beta of 0.76. The company has a 50-day moving average of $14.32 and a 200-day moving average of $16.11. Anika Therapeutics has a one year low of $11.11 and a one year high of $29.12.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last posted its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $30.60 million during the quarter, compared to analyst estimates of $29.00 million. As a group, sell-side analysts predict that Anika Therapeutics will post -0.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trigran Investments Inc. grew its position in Anika Therapeutics by 1.0% in the first quarter. Trigran Investments Inc. now owns 2,041,853 shares of the biotechnology company's stock worth $30,689,000 after acquiring an additional 20,075 shares in the last quarter. Alta Fundamental Advisers LLC lifted its stake in Anika Therapeutics by 136.6% in the fourth quarter. Alta Fundamental Advisers LLC now owns 700,432 shares of the biotechnology company's stock worth $11,529,000 after purchasing an additional 404,350 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in Anika Therapeutics by 5.1% in the fourth quarter. Boothbay Fund Management LLC now owns 529,503 shares of the biotechnology company's stock worth $8,716,000 after purchasing an additional 25,665 shares during the last quarter. Capital Management Corp VA lifted its stake in Anika Therapeutics by 1.3% in the first quarter. Capital Management Corp VA now owns 329,660 shares of the biotechnology company's stock worth $4,955,000 after purchasing an additional 4,115 shares during the last quarter. Finally, Stonepine Capital Management LLC lifted its stake 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 last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Anika Therapeutics Company Profile

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.