Anika Therapeutics Inc (NASDAQ:ANIK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $62.06 and last traded at $59.38, with a volume of 38000 shares traded. The stock had previously closed at $59.36.

Several equities research analysts have commented on the stock. First Analysis upgraded shares of Anika Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $45.00 to $68.00 in a research report on Wednesday. BidaskClub upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, Barrington Research boosted their target price on shares of Anika Therapeutics from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th.

The stock has a market cap of $915.33, a P/E ratio of 29.45, a PEG ratio of 3.60 and a beta of 1.44.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $27.18 million during the quarter, compared to the consensus estimate of $27.44 million. Anika Therapeutics had a return on equity of 13.40% and a net margin of 28.23%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. research analysts forecast that Anika Therapeutics Inc will post 1.9 EPS for the current fiscal year.

In other news, insider Richard Hague sold 5,250 shares of Anika Therapeutics stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $54.48, for a total transaction of $286,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.57% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ANIK. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Anika Therapeutics by 16.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,656,918 shares of the biotechnology company’s stock worth $96,101,000 after buying an additional 233,325 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Anika Therapeutics by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 878,006 shares of the biotechnology company’s stock worth $43,321,000 after buying an additional 106,307 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Anika Therapeutics by 10.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 541,382 shares of the biotechnology company’s stock worth $31,400,000 after buying an additional 50,949 shares during the last quarter. Sei Investments Co. acquired a new position in Anika Therapeutics in the 3rd quarter valued at about $6,161,000. Finally, Wells Fargo & Company MN raised its stake in Anika Therapeutics by 25.0% in the 3rd quarter. Wells Fargo & Company MN now owns 209,928 shares of the biotechnology company’s stock valued at $12,176,000 after purchasing an additional 42,015 shares during the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.

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Anika Therapeutics Company Profile

Anika Therapeutics, Inc is an orthopedic medicines company. The Company is engaged in developing, manufacturing and commercializing products based on its hyaluronic acid (HA) technology. The Company’s orthopedic medicine portfolio includes ORTHOVISC, MONOVISC, and CINGAL, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration.

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