Anika Therapeutics Inc. (NASDAQ:ANIK) Short Interest Update

Anika Therapeutics Inc. (NASDAQ:ANIK) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 714,626 shares, a growth of 22.7% from the December 31st total of 582,615 shares. Currently, 5.5% of the shares of the company are short sold. Based on an average daily volume of 127,882 shares, the short-interest ratio is presently 5.6 days. Based on an average daily volume of 127,882 shares, the short-interest ratio is presently 5.6 days. Currently, 5.5% of the shares of the company are short sold.

Anika Therapeutics Stock Up 4.3%

Shares of NASDAQ ANIK opened at $9.63 on Tuesday. The firm has a market cap of $138.86 million, a price-to-earnings ratio of -4.22 and a beta of 0.43. The company’s 50-day simple moving average is $9.51 and its 200-day simple moving average is $9.41. Anika Therapeutics has a 52-week low of $7.87 and a 52-week high of $18.37.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Anika Therapeutics had a negative net margin of 29.29% and a negative return on equity of 8.80%. The firm had revenue of $27.82 million for the quarter, compared to analyst estimates of $27.80 million. Equities research analysts anticipate that Anika Therapeutics will post -0.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

A number of large investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Anika Therapeutics by 526.6% in the third quarter. CWM LLC now owns 7,457 shares of the biotechnology company’s stock worth $70,000 after buying an additional 6,267 shares in the last quarter. Quarry LP acquired a new stake in Anika Therapeutics in the 3rd quarter valued at about $71,000. Occudo Quantitative Strategies LP acquired a new stake in Anika Therapeutics in the 3rd quarter valued at about $95,000. Williams & Novak LLC purchased a new position in Anika Therapeutics in the 3rd quarter worth approximately $102,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Anika Therapeutics during the 3rd quarter worth approximately $107,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ANIK shares. Wall Street Zen raised Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Anika Therapeutics in a report on Monday, December 29th. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Anika Therapeutics in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

About Anika Therapeutics

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.