According to Zacks, “Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products and devices that promote the repair, protection and healing of bone, cartilage and soft tissue. These products are based on hyaluronic acid, a naturally-occurring, biocompatible polymer found in the body. Due to its unique properties, hyaluronic acid plays an important role in numerous physiological functions such as the protection and lubrication of soft tissues and joints, the maintenance of the structural integrity of tissues and the transport of molecules to and within cells. “
Shares of Anika Therapeutics (NASDAQ:ANIK) opened at 45.30 on Tuesday. The stock has a market cap of $669.40 million, a price-to-earnings ratio of 19.77 and a beta of 1.49. The stock’s 50 day moving average price is $47.33 and its 200 day moving average price is $48.09. Anika Therapeutics has a one year low of $32.76 and a one year high of $54.96.
Anika Therapeutics (NASDAQ:ANIK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.13. The business earned $26.60 million during the quarter, compared to the consensus estimate of $24.75 million. Anika Therapeutics had a net margin of 33.77% and a return on equity of 17.24%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.51 EPS. Analysts forecast that Anika Therapeutics will post $2.00 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in shares of Anika Therapeutics by 26.0% in the second quarter. New York State Teachers Retirement System now owns 14,066 shares of the company’s stock worth $755,000 after buying an additional 2,900 shares in the last quarter. Capital One National Association purchased a new stake in shares of Anika Therapeutics during the second quarter worth about $277,000. Eqis Capital Management Inc. increased its stake in shares of Anika Therapeutics by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 52,117 shares of the company’s stock worth $2,796,000 after buying an additional 2,292 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Anika Therapeutics by 3.2% in the second quarter. Capstone Asset Management Co. now owns 4,830 shares of the company’s stock worth $259,000 after buying an additional 150 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Anika Therapeutics by 87.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,685 shares of the company’s stock worth $251,000 after buying an additional 2,184 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.
Anika Therapeutics Company Profile
Anika Therapeutics, Inc is an orthopedic medicines company. The Company offers therapeutic pain management solutions. It is engaged in developing, manufacturing and commercializing approximately 20 products based on its hyaluronic acid (HA) technology. It orthopedic medicine portfolio consists of marketed (ORTHOVISC and MONOVISC) and pipeline (CINGAL and HYALOFAST in the United States) products to alleviate pain and restore joint function by replenishing depleted HA and aiding cartilage repair and regeneration.
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