Insider Buying: Anika Therapeutics (NASDAQ:ANIK) Director Acquires $73,300.00 in Stock

Anika Therapeutics Inc. (NASDAQ:ANIK) Director John Henneman III purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $14.66 per share, for a total transaction of $73,300.00. Following the acquisition, the director directly owned 54,871 shares in the company, valued at $804,408.86. This represents a 10.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anika Therapeutics Price Performance

Shares of ANIK opened at $15.12 on Thursday. The company has a market capitalization of $201.19 million, a PE ratio of -19.14 and a beta of 0.16. Anika Therapeutics Inc. has a one year low of $7.87 and a one year high of $16.24. The company’s fifty day moving average price is $14.48 and its 200 day moving average price is $11.40.

Anika Therapeutics (NASDAQ:ANIK) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.34. The firm had revenue of $29.61 million for the quarter, compared to the consensus estimate of $28.14 million. Anika Therapeutics had a negative net margin of 9.52% and a negative return on equity of 5.90%. Analysts anticipate that Anika Therapeutics Inc. will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Opaleye Management Inc. raised its stake in shares of Anika Therapeutics by 49.1% in the second quarter. Opaleye Management Inc. now owns 588,797 shares of the biotechnology company’s stock valued at $6,229,000 after acquiring an additional 193,797 shares during the last quarter. Capital Management Corp VA raised its stake in shares of Anika Therapeutics by 34.8% in the third quarter. Capital Management Corp VA now owns 551,248 shares of the biotechnology company’s stock valued at $5,182,000 after acquiring an additional 142,403 shares during the last quarter. Boothbay Fund Management LLC lifted its position in shares of Anika Therapeutics by 1.9% during the third quarter. Boothbay Fund Management LLC now owns 539,642 shares of the biotechnology company’s stock worth $5,073,000 after purchasing an additional 10,139 shares in the last quarter. State Street Corp lifted its position in shares of Anika Therapeutics by 4.1% during the fourth quarter. State Street Corp now owns 336,543 shares of the biotechnology company’s stock worth $3,234,000 after purchasing an additional 13,165 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Anika Therapeutics by 78.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 195,585 shares of the biotechnology company’s stock worth $1,880,000 after purchasing an additional 85,771 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Anika Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Barrington Research lifted their target price on shares of Anika Therapeutics from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Anika Therapeutics has an average rating of “Hold” and an average price target of $17.00.

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.