Anika Therapeutics, Inc. (NASDAQ:ANIK) Short Interest Down 5.6% in May

Anika Therapeutics, Inc. (NASDAQ:ANIK) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 744,500 shares, a decrease of 5.6% from the May 15th total of 788,500 shares. Based on an average daily trading volume, of 66,800 shares, the days-to-cover ratio is presently 11.1 days.

Anika Therapeutics Price Performance

Shares of NASDAQ:ANIK opened at $25.93 on Thursday. The firm has a market capitalization of $378.24 million, a PE ratio of -4.94, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The firm’s 50-day moving average is $25.92 and its two-hundred day moving average is $24.64. Anika Therapeutics has a 1 year low of $16.54 and a 1 year high of $28.67.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $40.52 million for the quarter, compared to analysts’ expectations of $39.23 million. Anika Therapeutics had a positive return on equity of 0.48% and a negative net margin of 45.39%. Analysts expect that Anika Therapeutics will post -0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ANIK has been the topic of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $37.00 target price on shares of Anika Therapeutics in a research report on Thursday, May 9th. Stephens reaffirmed an “equal weight” rating and issued a $24.00 target price on shares of Anika Therapeutics in a research report on Wednesday, May 29th. Finally, StockNews.com raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th.

Institutional Trading of Anika Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in shares of Anika Therapeutics by 168.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock worth $70,000 after buying an additional 1,947 shares during the period. Quest Partners LLC purchased a new stake in shares of Anika Therapeutics during the fourth quarter worth approximately $156,000. Lazard Asset Management LLC purchased a new stake in shares of Anika Therapeutics during the first quarter worth approximately $180,000. SG Americas Securities LLC increased its stake in shares of Anika Therapeutics by 20.2% during the fourth quarter. SG Americas Securities LLC now owns 7,988 shares of the biotechnology company’s stock worth $181,000 after buying an additional 1,341 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Anika Therapeutics during the first quarter worth approximately $198,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

About Anika Therapeutics

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.