Anika Therapeutics Inc. (NASDAQ:ANIK) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating. Anika Therapeutics’ rating score has improved by 40.1% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus target price of $58.50 for the company and are anticipating that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also given Anika Therapeutics an industry rank of 94 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research report on Monday, August 1st.
Several hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in Anika Therapeutics by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,037 shares of the company’s stock valued at $109,000 after buying an additional 252 shares during the period. BlackRock Inc. raised its stake in Anika Therapeutics by 99.0% in the second quarter. BlackRock Inc. now owns 2,032 shares of the company’s stock valued at $109,000 after buying an additional 1,011 shares during the period. Mason Street Advisors LLC acquired a new stake in Anika Therapeutics during the second quarter valued at about $150,000. Paloma Partners Management Co acquired a new stake in Anika Therapeutics during the second quarter valued at about $233,000. Finally, Bank of Montreal Can acquired a new stake in Anika Therapeutics during the second quarter valued at about $247,000. 77.85% of the stock is currently owned by institutional investors.
Shares of Anika Therapeutics (NASDAQ:ANIK) opened at 46.10 on Tuesday. The stock has a 50 day moving average of $47.93 and a 200-day moving average of $47.91. The company has a market capitalization of $681.22 million, a PE ratio of 20.12 and a beta of 1.50. Anika Therapeutics has a one year low of $30.94 and a one year high of $54.96.
Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.44 by $0.13. The business had revenue of $26.60 million for the quarter, compared to analyst estimates of $24.75 million. Anika Therapeutics had a net margin of 33.77% and a return on equity of 17.24%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts forecast that Anika Therapeutics will post $2.00 earnings per share for the current fiscal year.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company offers therapeutic pain management solutions. It is engaged in developing, manufacturing and commercializing approximately 20 products based on its hyaluronic acid (HA) technology. It orthopedic medicine portfolio consists of marketed (ORTHOVISC and MONOVISC) and pipeline (CINGAL and HYALOFAST in the United States) products to alleviate pain and restore joint function by replenishing depleted HA and aiding cartilage repair and regeneration.
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