Equities Analysts Issue Forecasts for Anika Therapeutics Inc’s Q3 2019 Earnings (ANIK)

Anika Therapeutics Inc (NASDAQ:ANIK) – Research analysts at First Analysis issued their Q3 2019 earnings per share estimates for Anika Therapeutics in a note issued to investors on Friday, October 26th. First Analysis analyst expects that the biotechnology company will earn $0.34 per share for the quarter. First Analysis also issued estimates for Anika Therapeutics’ FY2019 earnings at $1.65 EPS.

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

ANIK has been the topic of several other reports. Barrington Research upgraded shares of Anika Therapeutics from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Friday, July 27th. BidaskClub lowered shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Anika Therapeutics from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday, October 23rd. Finally, ValuEngine upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.00.

Shares of ANIK opened at $35.01 on Monday. The stock has a market capitalization of $518.45 million, a P/E ratio of 17.86, a P/E/G ratio of 2.13 and a beta of 2.04. Anika Therapeutics has a 12-month low of $28.54 and a 12-month high of $69.81.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Anika Therapeutics by 7.7% during the second quarter. BlackRock Inc. now owns 2,057,830 shares of the biotechnology company’s stock worth $65,851,000 after purchasing an additional 147,627 shares during the period. Dimensional Fund Advisors LP increased its stake in Anika Therapeutics by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 977,569 shares of the biotechnology company’s stock worth $31,282,000 after purchasing an additional 46,798 shares during the period. First Manhattan Co. increased its stake in Anika Therapeutics by 1,172.9% during the second quarter. First Manhattan Co. now owns 492,602 shares of the biotechnology company’s stock worth $15,763,000 after purchasing an additional 453,902 shares during the period. AMI Asset Management Corp increased its stake in Anika Therapeutics by 40.2% during the second quarter. AMI Asset Management Corp now owns 344,668 shares of the biotechnology company’s stock worth $11,029,000 after purchasing an additional 98,873 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Anika Therapeutics by 57.1% during the second quarter. Renaissance Technologies LLC now owns 317,500 shares of the biotechnology company’s stock worth $10,160,000 after purchasing an additional 115,400 shares during the period. Hedge funds and other institutional investors own 94.58% of the company’s stock.

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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Earnings History and Estimates for Anika Therapeutics (NASDAQ:ANIK)

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