BlackRock Inc. Takes $21.21 Million Position in Anika Therapeutics Inc. $ANIK

Key Points

• BlackRock acquired a new 1,449,671-share stake in Anika Therapeutics during the second quarter, valued at approximately $21.21 million and representing 10.83% of the company. Institutional investors collectively own 91.53% of ANIK.
• Anika reported quarterly revenue of $32.61 million and adjusted earnings of $0.42 per share, exceeding analyst expectations of $29.21 million in revenue and $0.03 per share.
• ANIK shares opened at $21.55, near their 52-week high of $22.88. Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $21.00, although one analyst maintains a sell rating.

BlackRock Inc. bought a new stake in shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,449,671 shares of the biotechnology company's stock, valued at approximately $21,209,000. BlackRock Inc. owned approximately 10.83% of Anika Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in Anika Therapeutics by 192.4% in the 4th quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company's stock worth $1,173,000 after purchasing an additional 80,319 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Anika Therapeutics during the 2nd quarter valued at about $5,172,000. Assenagon Asset Management S.A. boosted its stake in shares of Anika Therapeutics by 268.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 46,586 shares of the biotechnology company's stock valued at $675,000 after purchasing an additional 33,951 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Anika Therapeutics during the fourth quarter valued at about $464,000. Finally, Indivisible Partners purchased a new position in shares of Anika Therapeutics during the fourth quarter valued at about $484,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Anika Therapeutics Stock Performance

Shares of NASDAQ ANIK opened at $21.55 on Thursday. Anika Therapeutics Inc. has a fifty-two week low of $8.37 and a fifty-two week high of $22.88. The company has a 50 day simple moving average of $18.14 and a two-hundred day simple moving average of $15.63. The company has a market capitalization of $288.40 million, a price-to-earnings ratio of -79.81, a P/E/G ratio of 15.08 and a beta of 0.20.

Anika Therapeutics (NASDAQ:ANIK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.39. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%.The firm had revenue of $32.61 million for the quarter, compared to analysts' expectations of $29.21 million. On average, analysts forecast that Anika Therapeutics Inc. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ANIK. Wall Street Zen upgraded shares of Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Barrington Research set a $21.00 target price on Anika Therapeutics in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Anika Therapeutics in a research report on Wednesday, June 24th. Zacks Research upgraded Anika Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Finally, B. Riley Financial upped their price target on Anika Therapeutics from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.00.

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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