Anika Therapeutics (NASDAQ:ANIK) Stock Price Breaks Above 200 Day Moving Average - Time to Sell?

Key Points

• Anika Therapeutics shares rose above their 200-day moving average, reaching $20.91 before last trading at $20.69, compared with the average of $17.19.
• Analyst opinions are mixed: two analysts rate the stock Buy, one Hold and one Sell, resulting in an overall “Hold” rating and an average price target of $22.00.
• The company exceeded quarterly expectations, reporting $0.42 in EPS versus a $0.03 estimate and $32.61 million in revenue versus a $29.21 million consensus; institutional investors own 91.53% of the stock.

Anika Therapeutics Inc. (NASDAQ:ANIK - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $17.19 and traded as high as $20.91. Anika Therapeutics shares last traded at $20.69, with a volume of 84,759 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anika Therapeutics in a research report on Monday, September 21st. Zacks Research lowered shares of Anika Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Barrington Research set a $21.00 price objective on shares of Anika Therapeutics in a research report on Thursday, July 30th. B. Riley Financial began coverage on shares of Anika Therapeutics in a research note on Friday, September 18th. They issued a "buy" rating and a $23.00 target price for the company. Finally, Wall Street Zen upgraded shares of Anika Therapeutics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.00.

Anika Therapeutics Price Performance

The stock has a 50-day moving average of $20.74 and a 200 day moving average of $17.19. The stock has a market capitalization of $276.89 million, a price-to-earnings ratio of -76.63, a price-to-earnings-growth ratio of 14.46 and a beta of 0.21.

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

Institutional Trading of Anika Therapeutics

Institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in shares of Anika Therapeutics in the 2nd quarter worth $37,000. Squarepoint Ops LLC bought a new stake in Anika Therapeutics in the second quarter valued at about $274,000. Public Employees Retirement System of Ohio bought a new stake in Anika Therapeutics in the second quarter valued at about $278,000. Canada Pension Plan Investment Board bought a new stake in Anika Therapeutics in the second quarter valued at about $322,000. Finally, Bank of America Corp DE acquired a new position in Anika Therapeutics in the second quarter valued at about $359,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc is a medical technology company focused on joint preservation and orthopedic care. The company develops and commercializes products designed to relieve pain, restore mobility and support the repair or protection of damaged joints and tissues, with an emphasis on therapies based on hyaluronic acid and other regenerative technologies.

Anika's portfolio includes viscosupplementation products for osteoarthritis, including Orthovisc, Monovisc and Cingal. These injectable treatments are intended to supplement the natural synovial fluid in the knee and other joints.

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