According to Zacks, “Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products and devices that promote the repair, protection and healing of bone, cartilage and soft tissue. These products are based on hyaluronic acid, a naturally-occurring, biocompatible polymer found in the body. Due to its unique properties, hyaluronic acid plays an important role in numerous physiological functions such as the protection and lubrication of soft tissues and joints, the maintenance of the structural integrity of tissues and the transport of molecules to and within cells. “
Anika Therapeutics (NASDAQ:ANIK) opened at 44.50 on Tuesday. The firm has a 50 day moving average price of $47.21 and a 200 day moving average price of $48.09. Anika Therapeutics has a 12-month low of $32.76 and a 12-month high of $54.96. The company has a market cap of $657.58 million, a PE ratio of 19.42 and a beta of 1.49.
Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.13. The firm had revenue of $26.60 million for the quarter, compared to analysts’ expectations of $24.75 million. Anika Therapeutics had a net margin of 33.77% and a return on equity of 17.24%. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, analysts anticipate that Anika Therapeutics will post $2.00 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the company. Prudential Financial Inc. boosted its stake in shares of Anika Therapeutics by 4.9% in the first quarter. Prudential Financial Inc. now owns 35,880 shares of the company’s stock valued at $1,605,000 after buying an additional 1,680 shares in the last quarter. HL Financial Services LLC boosted its stake in shares of Anika Therapeutics by 10.1% in the second quarter. HL Financial Services LLC now owns 46,631 shares of the company’s stock valued at $2,502,000 after buying an additional 4,283 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Anika Therapeutics during the second quarter valued at $483,000. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Anika Therapeutics by 0.7% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 69,300 shares of the company’s stock valued at $3,717,000 after buying an additional 515 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Anika Therapeutics by 3.3% in the second quarter. California Public Employees Retirement System now owns 92,600 shares of the company’s stock valued at $4,968,000 after buying an additional 3,000 shares in the last quarter. 77.84% of the stock is currently owned by hedge funds and other institutional investors.
About Anika Therapeutics
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Anika Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anika Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.