Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Anika Therapeutics Inc (NASDAQ:ANIK) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,707,325 shares of the biotechnology company’s stock after purchasing an additional 40,115 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 11.58% of Anika Therapeutics worth $84,888,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ANIK. BlackRock Inc. grew its position in Anika Therapeutics by 3.2% in the 4th quarter. BlackRock Inc. now owns 1,876,645 shares of the biotechnology company’s stock valued at $101,171,000 after acquiring an additional 58,120 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in Anika Therapeutics in the 4th quarter valued at about $1,348,000. Deutsche Bank AG grew its position in Anika Therapeutics by 31.9% in the 4th quarter. Deutsche Bank AG now owns 90,584 shares of the biotechnology company’s stock valued at $4,880,000 after acquiring an additional 21,906 shares in the last quarter. Arizona State Retirement System grew its position in Anika Therapeutics by 224.7% in the 4th quarter. Arizona State Retirement System now owns 24,644 shares of the biotechnology company’s stock valued at $1,329,000 after acquiring an additional 17,054 shares in the last quarter. Finally, 6 Meridian acquired a new position in Anika Therapeutics in the 1st quarter valued at about $553,000. 84.62% of the stock is owned by hedge funds and other institutional investors.
ANIK stock traded up $0.80 during trading on Thursday, hitting $44.77. 163,600 shares of the company’s stock were exchanged, compared to its average volume of 130,760. Anika Therapeutics Inc has a 52-week low of $30.91 and a 52-week high of $69.81. The stock has a market cap of $638.76 million, a price-to-earnings ratio of 22.81, a PEG ratio of 4.01 and a beta of 1.72.
Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, May 2nd. The biotechnology company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.71). Anika Therapeutics had a net margin of 17.64% and a return on equity of 10.05%. The firm had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $24.34 million. During the same quarter in the prior year, the firm posted $0.37 EPS. Anika Therapeutics’s quarterly revenue was down 9.0% compared to the same quarter last year. research analysts predict that Anika Therapeutics Inc will post 1.08 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Barrington Research cut Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 23rd. BidaskClub cut Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. ValuEngine cut Anika Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Finally, TheStreet cut Anika Therapeutics from a “b-” rating to a “c” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.50.
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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