Anika Therapeutics (NASDAQ:ANIK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “Anika Therapeutics, Inc. is a global, integrated orthopedic medicines company based in Bedford, Massachusetts. Anika is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along the continuum of care, from palliative pain management to regenerative cartilage repair. Anika’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration. “
Other analysts have also recently issued research reports about the stock. Sidoti initiated coverage on shares of Anika Therapeutics in a research note on Friday, January 26th. They set a “buy” rating for the company. BidaskClub upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. First Analysis upgraded shares of Anika Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $68.00 in a research note on Wednesday, January 24th. Finally, Barrington Research cut shares of Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Anika Therapeutics has a consensus rating of “Hold” and a consensus target price of $62.50.
Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). Anika Therapeutics had a net margin of 28.05% and a return on equity of 11.91%. The firm had revenue of $29.39 million during the quarter, compared to the consensus estimate of $29.85 million. During the same period last year, the business earned $0.54 EPS. The business’s revenue was up 2.3% on a year-over-year basis. equities research analysts forecast that Anika Therapeutics will post 1.6 earnings per share for the current year.
In other news, insider Richard Hague sold 5,250 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $54.48, for a total transaction of $286,020.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.57% of the company’s stock.
Institutional investors have recently modified their holdings of the business. CS Mckee LP raised its stake in Anika Therapeutics by 42.6% in the 3rd quarter. CS Mckee LP now owns 20,100 shares of the biotechnology company’s stock worth $1,166,000 after purchasing an additional 6,000 shares in the last quarter. Sei Investments Co. acquired a new stake in Anika Therapeutics in the 3rd quarter worth about $6,161,000. Wells Fargo & Company MN raised its stake in Anika Therapeutics by 25.0% in the 3rd quarter. Wells Fargo & Company MN now owns 209,928 shares of the biotechnology company’s stock worth $12,176,000 after purchasing an additional 42,015 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Anika Therapeutics by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 895,600 shares of the biotechnology company’s stock worth $51,945,000 after purchasing an additional 17,594 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Anika Therapeutics by 16.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,656,918 shares of the biotechnology company’s stock worth $96,101,000 after purchasing an additional 233,325 shares in the last quarter. Institutional investors and hedge funds own 85.29% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Anika Therapeutics (ANIK) Downgraded by Zacks Investment Research to Sell” was reported by Ticker Report and is owned by of Ticker Report. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/3224077/anika-therapeutics-anik-downgraded-by-zacks-investment-research-to-sell.html.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Anika Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anika Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.