Brokerages Set Anika Therapeutics Inc (ANIK) PT at $41.00

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Anika Therapeutics Inc (NASDAQ:ANIK) has earned a consensus rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $41.00.

A number of brokerages have recently issued reports on ANIK. Zacks Investment Research upgraded shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating and set a $41.00 price target on the stock in a research report on Monday. BidaskClub upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, October 17th. Finally, Barrington Research upgraded shares of Anika Therapeutics from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research report on Friday, July 27th.

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in shares of Anika Therapeutics by 81.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,264 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 1,467 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Anika Therapeutics during the 2nd quarter valued at $110,000. Tower Research Capital LLC TRC acquired a new position in shares of Anika Therapeutics during the 2nd quarter valued at $116,000. Nisa Investment Advisors LLC lifted its position in shares of Anika Therapeutics by 134.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 4,010 shares of the biotechnology company’s stock valued at $169,000 after acquiring an additional 2,300 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Anika Therapeutics during the 2nd quarter valued at $209,000. Institutional investors own 94.58% of the company’s stock.

Shares of NASDAQ ANIK opened at $35.76 on Monday. The company has a market capitalization of $511.61 million, a PE ratio of 21.18, a PEG ratio of 2.16 and a beta of 2.04. Anika Therapeutics has a 52-week low of $28.54 and a 52-week high of $69.81.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings results on Wednesday, October 24th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.22. The firm had revenue of $26.79 million for the quarter, compared to the consensus estimate of $27.12 million. Anika Therapeutics had a net margin of 17.66% and a return on equity of 9.78%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS.

About Anika Therapeutics

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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