Anika Therapeutics Inc (NASDAQ:ANIK) reached a new 52-week low on Wednesday . The stock traded as low as $29.00 and last traded at $29.01, with a volume of 52024 shares trading hands. The stock had previously closed at $33.00.

Several equities research analysts recently weighed in on ANIK shares. BidaskClub upgraded shares of Anika Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Zacks Investment Research cut shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. First Analysis cut shares of Anika Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $45.00 to $34.00 in a research note on Wednesday. Barrington Research cut shares of Anika Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, ValuEngine cut shares of Anika Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Anika Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $36.50.

The company has a market capitalization of $664.56 million, a P/E ratio of 14.68, a PEG ratio of 4.17 and a beta of 1.72.

Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.71). The business had revenue of $21.30 million for the quarter, compared to the consensus estimate of $24.34 million. Anika Therapeutics had a return on equity of 10.05% and a net margin of 17.64%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 EPS. equities research analysts anticipate that Anika Therapeutics Inc will post 1.08 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. We Are One Seven LLC bought a new position in Anika Therapeutics during the fourth quarter worth about $160,000. Financial Gravity Companies Inc. bought a new position in Anika Therapeutics during the fourth quarter worth about $200,000. American Century Companies Inc. bought a new position in Anika Therapeutics during the first quarter worth about $247,000. Teacher Retirement System of Texas bought a new position in Anika Therapeutics during the fourth quarter worth about $274,000. Finally, Bogle Investment Management L P DE bought a new position in Anika Therapeutics during the fourth quarter worth about $280,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.

About Anika Therapeutics

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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