Barrington Research Cuts Anika Therapeutics (NASDAQ:ANIK) Price Target to $20.00

Anika Therapeutics (NASDAQ:ANIK) had its price objective decreased by research analysts at Barrington Research from $25.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Barrington Research’s price objective points to a potential upside of 16.89% from the stock’s current price.

Anika Therapeutics Trading Up 1.9 %

Anika Therapeutics stock opened at $17.11 on Thursday. The stock has a market cap of $250.59 million, a P/E ratio of -2.57 and a beta of 0.95. The company has a fifty day simple moving average of $16.92 and a 200-day simple moving average of $19.65. Anika Therapeutics has a 12-month low of $15.40 and a 12-month high of $29.11.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.13). Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. As a group, sell-side analysts forecast that Anika Therapeutics will post -0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anika Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Anika Therapeutics during the fourth quarter worth about $27,000. Aquatic Capital Management LLC acquired a new stake in shares of Anika Therapeutics in the fourth quarter valued at approximately $42,000. Tower Research Capital LLC TRC grew its position in shares of Anika Therapeutics by 412.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,890 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 2,326 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Anika Therapeutics by 31.1% in the 4th quarter. Wells Fargo & Company MN now owns 7,421 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 1,759 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Anika Therapeutics in the fourth quarter valued at $137,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

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.