Hsbc Holdings PLC Invests $727,000 in Anika Therapeutics Inc. $ANIK

Key Points

• Hsbc Holdings PLC purchased 50,105 Anika Therapeutics shares worth approximately $727,000, giving it a 0.37% stake. Institutional investors collectively own 91.53% of the company, with BlackRock and Deutsche Bank also establishing significant positions.
• Analyst sentiment is generally positive: Anika has a consensus “Moderate Buy” rating and an average price target of $21, while individual targets from B. Riley Financial and Barrington Research reached $21.
• Anika reported quarterly earnings of $0.42 per share, beating estimates of $0.03, and revenue of $32.61 million versus the $29.21 million consensus. The stock recently opened at $21.11, near its 52-week high of $22.88.

Hsbc Holdings PLC purchased a new position in shares of Anika Therapeutics Inc. (NASDAQ:ANIK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 50,105 shares of the biotechnology company's stock, valued at approximately $727,000. Hsbc Holdings PLC owned about 0.37% of Anika Therapeutics at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Anika Therapeutics in the 2nd quarter valued at about $21,209,000. Opaleye Management Inc. boosted its holdings in shares of Anika Therapeutics by 49.1% during the 2nd quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company's stock worth $6,229,000 after purchasing an additional 193,797 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Anika Therapeutics during the 2nd quarter worth approximately $5,172,000. State Street Corp increased its holdings in shares of Anika Therapeutics by 4.1% in the fourth quarter. State Street Corp now owns 336,543 shares of the biotechnology company's stock valued at $3,234,000 after purchasing an additional 13,165 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Anika Therapeutics by 78.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company's stock valued at $1,880,000 after purchasing an additional 85,771 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. B. Riley Financial boosted their price objective on Anika Therapeutics from $18.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. Zacks Research upgraded Anika Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Barrington Research set a $21.00 price target on shares of Anika Therapeutics in a research report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Anika Therapeutics Stock Performance

ANIK opened at $21.11 on Wednesday. Anika Therapeutics Inc. has a one year low of $8.37 and a one year high of $22.88. The stock has a market capitalization of $282.45 million, a PE ratio of -78.18, a P/E/G ratio of 14.91 and a beta of 0.20. The business's 50 day moving average price is $18.01 and its 200 day moving average price is $15.55.

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

Anika Therapeutics 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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