Ieq Capital LLC Takes $490,000 Position in Anika Therapeutics Inc. $ANIK

Ieq Capital LLC acquired a new position in Anika Therapeutics Inc. (NASDAQ:ANIK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 33,466 shares of the biotechnology company’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ANIK. GSA Capital Partners LLP lifted its stake in Anika Therapeutics by 192.4% during the 4th quarter. GSA Capital Partners LLP now owns 122,062 shares of the biotechnology company’s stock valued at $1,173,000 after acquiring an additional 80,319 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Anika Therapeutics in the second quarter valued at about $5,172,000. Assenagon Asset Management S.A. lifted its position in shares of Anika Therapeutics by 268.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 46,586 shares of the biotechnology company’s stock worth $675,000 after buying an additional 33,951 shares in the last quarter. Hsbc Holdings PLC bought a new position in Anika Therapeutics in the 4th quarter valued at $464,000. Finally, Indivisible Partners bought a new stake in shares of Anika Therapeutics during the 4th quarter worth $484,000. 91.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ANIK has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Anika Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anika Therapeutics in a research note on Wednesday, June 24th. B. Riley Financial raised their target price on Anika Therapeutics from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Wall Street Zen upgraded Anika Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Barrington Research set a $21.00 target price on shares of Anika Therapeutics in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Anika Therapeutics Stock Performance

NASDAQ:ANIK opened at $21.10 on Friday. The business’s fifty day moving average is $17.74 and its 200 day moving average is $15.36. The firm has a market cap of $282.32 million, a price-to-earnings ratio of -78.15, a PEG ratio of 14.89 and a beta of 0.20. Anika Therapeutics Inc. has a 52-week low of $8.37 and a 52-week high of $22.88.

Anika Therapeutics (NASDAQ:ANIK) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.39. Anika Therapeutics had a positive return on equity of 0.20% and a negative net margin of 3.14%.The business had revenue of $32.61 million during the quarter, compared to analyst estimates of $29.21 million. Equities analysts predict that Anika Therapeutics Inc. will post 0.14 EPS for the current fiscal year.

About Anika Therapeutics

Anika Therapeutics, Inc is a life sciences company specializing in the development and commercialization of hyaluronic acid–based therapeutic products. The company focuses on orthobiologics and medical devices designed to support joint health, tissue repair and surgical applications. Anika’s proprietary hyaluronan technology serves as the foundation for products aimed at alleviating pain associated with osteoarthritis and enhancing healing in musculoskeletal and ophthalmic surgeries.

The company’s core product portfolio includes injectable viscosupplements such as Monovisc® and Orthovisc®, which are indicated for the relief of knee osteoarthritis pain, as well as Euflexxa®, approved for osteoarthritis of the knee in various international markets.