FY2018 EPS Estimates for Anika Therapeutics Inc (ANIK) Increased by Analyst

Anika Therapeutics Inc (NASDAQ:ANIK) – Investment analysts at Barrington Research lifted their FY2018 EPS estimates for Anika Therapeutics in a research note issued on Thursday, October 25th. Barrington Research analyst M. Petusky now expects that the biotechnology company will post earnings of $1.67 per share for the year, up from their previous forecast of $1.55. Barrington Research currently has a “Outperform” rating and a $48.00 target price on the stock. Barrington Research also issued estimates for Anika Therapeutics’ Q4 2018 earnings at $0.32 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.32 EPS and FY2020 earnings at $1.32 EPS.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, October 24th. The biotechnology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.22. Anika Therapeutics had a return on equity of 9.78% and a net margin of 17.66%. The business had revenue of $26.79 million during the quarter, compared to analysts’ expectations of $27.12 million. During the same quarter last year, the business posted $0.46 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis.

ANIK has been the subject of a number of other research reports. BidaskClub cut Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded Anika Therapeutics from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, October 23rd. Finally, ValuEngine upgraded Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.00.

Shares of ANIK stock opened at $36.00 on Monday. Anika Therapeutics has a fifty-two week low of $28.54 and a fifty-two week high of $69.81. The firm has a market capitalization of $518.45 million, a PE ratio of 18.37, a PEG ratio of 2.13 and a beta of 2.04.

A number of institutional investors have recently bought and sold shares of ANIK. FDx Advisors Inc. raised its holdings in shares of Anika Therapeutics by 18.0% in the 2nd quarter. FDx Advisors Inc. now owns 8,205 shares of the biotechnology company’s stock worth $263,000 after buying an additional 1,253 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of Anika Therapeutics by 8.4% in the 2nd quarter. Isthmus Partners LLC now owns 18,332 shares of the biotechnology company’s stock worth $587,000 after buying an additional 1,427 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Anika Therapeutics by 81.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,264 shares of the biotechnology company’s stock worth $104,000 after buying an additional 1,467 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Anika Therapeutics by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 29,039 shares of the biotechnology company’s stock worth $922,000 after buying an additional 1,762 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Anika Therapeutics by 5.8% in the 2nd quarter. Rhumbline Advisers now owns 35,848 shares of the biotechnology company’s stock worth $1,147,000 after buying an additional 1,972 shares in the last quarter. 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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