Anika Therapeutics (NASDAQ:ANIK) Shares Pass Above 200-Day Moving Average of $23.94

Anika Therapeutics, Inc. (NASDAQ:ANIK)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.94 and traded as high as $25.72. Anika Therapeutics shares last traded at $25.64, with a volume of 37,846 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Barrington Research reiterated an “outperform” rating and set a $37.00 price target on shares of Anika Therapeutics in a research note on Thursday, May 9th. Finally, Stephens reiterated an “equal weight” rating and set a $22.00 price target on shares of Anika Therapeutics in a research note on Thursday, March 14th.

Anika Therapeutics Stock Performance

The stock’s fifty day moving average price is $25.84 and its 200-day moving average price is $23.99. The firm has a market cap of $376.78 million, a PE ratio of -4.84, a P/E/G ratio of 2.37 and a beta of 0.74.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, March 13th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The business had revenue of $42.97 million during the quarter, compared to the consensus estimate of $41.51 million. Anika Therapeutics had a negative net margin of 45.39% and a positive return on equity of 0.48%. Sell-side analysts forecast that Anika Therapeutics, Inc. will post 1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anika Therapeutics

A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Anika Therapeutics by 216.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,393 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 2,320 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Anika Therapeutics by 168.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,104 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 1,947 shares in the last quarter. Quantbot Technologies LP purchased a new position in Anika Therapeutics during the 3rd quarter valued at about $97,000. Quest Partners LLC purchased a new position in Anika Therapeutics during the 4th quarter valued at about $156,000. Finally, Lazard Asset Management LLC purchased a new position in Anika Therapeutics during the 1st quarter valued at about $180,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Anika Therapeutics Company Profile

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.