Barrington Research Reiterates "Outperform" Rating for Anika Therapeutics (NASDAQ:ANIK)

Key Points

• Barrington Research has reaffirmed its "outperform" rating for Anika Therapeutics (NASDAQ:ANIK) with a price target of $15.00, suggesting a potential upside of 61.81% from the current stock price.
• Anika Therapeutics' stock recently traded at $9.27, down 0.7%, with a twelve-month trading range of $7.87 to $25.65.
• Institutional investors hold a significant majority, with 91.53% of Anika Therapeutics' stock owned by hedge funds after recent increases in their holdings during the fourth quarter.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Barrington Research in a report issued on Tuesday,Benzinga reports. They currently have a $15.00 price objective on the biotechnology company's stock. Barrington Research's price target would indicate a potential upside of 61.81% from the company's current price.

Anika Therapeutics Stock Down 0.7%

NASDAQ ANIK traded down $0.07 during trading hours on Tuesday, hitting $9.27. The company's stock had a trading volume of 37,735 shares, compared to its average volume of 90,524. The firm has a market capitalization of $133.67 million, a P/E ratio of -2.24 and a beta of 0.63. Anika Therapeutics has a twelve month low of $7.87 and a twelve month high of $25.65. The stock has a fifty day moving average of $9.31 and a 200 day moving average of $11.71.

Institutional Trading of Anika Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in Anika Therapeutics by 12.6% in the 4th quarter. Jane Street Group LLC now owns 27,416 shares of the biotechnology company's stock worth $451,000 after acquiring an additional 3,065 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Anika Therapeutics by 81.3% in the 4th quarter. Ameriprise Financial Inc. now owns 46,093 shares of the biotechnology company's stock valued at $759,000 after purchasing an additional 20,663 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Anika Therapeutics by 408.6% during the 4th quarter. BNP Paribas Financial Markets now owns 14,448 shares of the biotechnology company's stock worth $238,000 after purchasing an additional 11,607 shares during the period. Bank of America Corp DE raised its position in Anika Therapeutics by 10.9% in the 4th quarter. Bank of America Corp DE now owns 38,218 shares of the biotechnology company's stock valued at $629,000 after purchasing an additional 3,758 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Anika Therapeutics in the fourth quarter valued at approximately $212,000. 91.53% of the stock is 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.

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