Anika Therapeutics Inc (ANIK) Expected to Post Earnings of $0.21 Per Share

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Analysts forecast that Anika Therapeutics Inc (NASDAQ:ANIK) will post earnings of $0.21 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Anika Therapeutics’ earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.17. Anika Therapeutics posted earnings per share of $0.11 during the same quarter last year, which indicates a positive year-over-year growth rate of 90.9%. The firm is expected to announce its next quarterly earnings report on Wednesday, May 1st.

According to Zacks, analysts expect that Anika Therapeutics will report full-year earnings of $1.22 per share for the current year, with EPS estimates ranging from $1.15 to $1.27. For the next fiscal year, analysts anticipate that the business will report earnings of $1.21 per share, with EPS estimates ranging from $1.13 to $1.28. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Anika Therapeutics.

Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Thursday, February 21st. The biotechnology company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.22. Anika Therapeutics had a net margin of 17.74% and a return on equity of 10.54%. The company had revenue of $27.00 million for the quarter, compared to the consensus estimate of $26.22 million. During the same quarter in the previous year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year.

ANIK has been the topic of several research reports. Zacks Investment Research downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Singular Research reiterated a “buy” rating on shares of Anika Therapeutics in a research report on Thursday, February 28th. ValuEngine downgraded shares of Anika Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 23rd. TheStreet upgraded shares of Anika Therapeutics from a “c” rating to a “b-” rating in a research report on Friday, February 22nd. Finally, BidaskClub downgraded shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $40.00.

Shares of NASDAQ:ANIK opened at $30.15 on Friday. Anika Therapeutics has a 52 week low of $28.54 and a 52 week high of $53.08. The firm has a market capitalization of $433.17 million, a PE ratio of 16.39, a PEG ratio of 2.50 and a beta of 1.42.

In other news, CEO Joseph G. Darling acquired 1,000 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was purchased at an average cost of $33.20 per share, with a total value of $33,200.00. Following the acquisition, the chief executive officer now owns 22,436 shares of the company’s stock, valued at approximately $744,875.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond J. Land sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $33.06, for a total value of $132,240.00. Following the sale, the director now directly owns 18,992 shares of the company’s stock, valued at $627,875.52. The disclosure for this sale can be found here. 8.08% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. California Public Employees Retirement System raised its holdings in Anika Therapeutics by 0.8% during the 4th quarter. California Public Employees Retirement System now owns 62,556 shares of the biotechnology company’s stock worth $2,103,000 after purchasing an additional 514 shares during the last quarter. Arizona State Retirement System raised its holdings in Anika Therapeutics by 3.4% during the 4th quarter. Arizona State Retirement System now owns 21,885 shares of the biotechnology company’s stock worth $736,000 after purchasing an additional 729 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Anika Therapeutics during the 4th quarter worth about $52,000. Teachers Advisors LLC raised its holdings in Anika Therapeutics by 6.9% during the 3rd quarter. Teachers Advisors LLC now owns 28,084 shares of the biotechnology company’s stock worth $1,185,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV bought a new stake in Anika Therapeutics during the 4th quarter worth about $76,000. 89.80% of the stock is owned by hedge funds and other institutional investors.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, together with its subsidiaries, provides orthopedic medicines for patients with degenerative orthopedic diseases and traumatic conditions in the United States and internationally. The company develops, manufactures, and commercializes therapeutic products based on its proprietary hyaluronic acid (HA) technology.

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