Anika Therapeutics Inc. (NASDAQ:ANIK) CEO Charles H. Sherwood sold 63,799 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.79, for a total value of $3,240,351.21. Following the transaction, the chief executive officer now owns 174,705 shares of the company’s stock, valued at $8,873,266.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Anika Therapeutics Inc. (NASDAQ ANIK) traded up 0.7735% on Friday, hitting $53.0875. The stock had a trading volume of 39,700 shares. Anika Therapeutics Inc. has a 52 week low of $41.38 and a 52 week high of $53.99. The stock’s 50-day moving average price is $49.67 and its 200 day moving average price is $47.11. The company has a market cap of $778.16 million, a PE ratio of 23.5840 and a beta of 1.69.
Anika Therapeutics (NASDAQ:ANIK) last issued its earnings results on Wednesday, July 26th. The biotechnology company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.32. Anika Therapeutics had a return on equity of 14.88% and a net margin of 30.44%. The company had revenue of $33.50 million during the quarter, compared to the consensus estimate of $27.20 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, analysts predict that Anika Therapeutics Inc. will post $2.20 EPS for the current year.
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ANIK has been the subject of a number of research analyst reports. Zacks Investment Research lowered Anika Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 8th. BidaskClub upgraded Anika Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Anika Therapeutics by 110.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,335,175 shares of the biotechnology company’s stock valued at $58,000,000 after buying an additional 700,234 shares in the last quarter. Thomson Horstmann & Bryant Inc. purchased a new stake in Anika Therapeutics during the second quarter valued at $11,345,000. Bank of New York Mellon Corp boosted its stake in Anika Therapeutics by 76.8% in the second quarter. Bank of New York Mellon Corp now owns 490,433 shares of the biotechnology company’s stock valued at $24,199,000 after buying an additional 213,055 shares during the last quarter. Columbia Wanger Asset Management LLC purchased a new stake in Anika Therapeutics during the first quarter valued at $7,395,000. Finally, Wells Fargo & Company MN boosted its stake in Anika Therapeutics by 891.4% in the first quarter. Wells Fargo & Company MN now owns 166,674 shares of the biotechnology company’s stock valued at $7,240,000 after buying an additional 149,862 shares during the last quarter. Institutional investors own 82.25% of the company’s stock.
About Anika Therapeutics
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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