Anika Therapeutics (NASDAQ:ANIK) Shares Pass Above Two Hundred Day Moving Average of $23.54

Anika Therapeutics, Inc. (NASDAQ:ANIK)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.54 and traded as high as $28.67. Anika Therapeutics shares last traded at $28.47, with a volume of 59,455 shares changing hands.

Analyst Upgrades and Downgrades

ANIK has been the subject of a number of research analyst reports. StockNews.com raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Stephens reiterated an “equal weight” rating and issued a $22.00 price objective on shares of Anika Therapeutics in a research report on Thursday, March 14th. Finally, Barrington Research boosted their price objective on Anika Therapeutics from $29.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th.

Anika Therapeutics Stock Performance

The firm has a market capitalization of $422.15 million, a price-to-earnings ratio of -5.04, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. The firm’s 50-day moving average price is $25.83 and its two-hundred day moving average price is $23.54.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, March 13th. The biotechnology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. Anika Therapeutics had a negative return on equity of 2.10% and a negative net margin of 49.60%. The company had revenue of $42.97 million for the quarter, compared to the consensus estimate of $41.51 million. As a group, equities research analysts anticipate that Anika Therapeutics, Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its holdings in shares of Anika Therapeutics by 7.8% in the 1st quarter. SG Americas Securities LLC now owns 8,615 shares of the biotechnology company’s stock worth $219,000 after purchasing an additional 627 shares during the last quarter. Swiss National Bank grew its stake in Anika Therapeutics by 3.2% during the third quarter. Swiss National Bank now owns 32,500 shares of the biotechnology company’s stock worth $605,000 after buying an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Anika Therapeutics by 168.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock worth $70,000 after buying an additional 1,947 shares in the last quarter. Barclays PLC raised its stake in shares of Anika Therapeutics by 9.0% in the third quarter. Barclays PLC now owns 26,765 shares of the biotechnology company’s stock valued at $499,000 after acquiring an additional 2,209 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Anika Therapeutics by 216.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 2,320 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

About Anika Therapeutics

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.