Anika Therapeutics (NASDAQ:ANIK) Price Target Lowered to $20.00 at Barrington Research

Anika Therapeutics (NASDAQ:ANIK) had its price target trimmed by Barrington Research from $25.00 to $20.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

Anika Therapeutics Price Performance

Shares of Anika Therapeutics stock opened at $15.91 on Thursday. Anika Therapeutics has a one year low of $14.95 and a one year high of $29.11. The stock’s 50-day moving average is $16.90 and its 200 day moving average is $19.51. The firm has a market cap of $233.02 million, a price-to-earnings ratio of -2.39 and a beta of 0.95.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The business had revenue of $30.60 million for the quarter, compared to the consensus estimate of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. On average, sell-side analysts expect that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in Anika Therapeutics by 54.1% in the third quarter. Jane Street Group LLC now owns 24,351 shares of the biotechnology company’s stock worth $601,000 after acquiring an additional 8,550 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Anika Therapeutics by 11.3% in the third quarter. HighTower Advisors LLC now owns 15,883 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 1,615 shares in the last quarter. Barclays PLC boosted its holdings in Anika Therapeutics by 66.6% in the third quarter. Barclays PLC now owns 32,664 shares of the biotechnology company’s stock worth $806,000 after acquiring an additional 13,054 shares in the last quarter. FMR LLC boosted its holdings in Anika Therapeutics by 25.3% in the third quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock worth $611,000 after acquiring an additional 4,996 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in Anika Therapeutics in the third quarter worth approximately $238,000. Institutional investors own 91.53% of the company’s stock.

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.