Ironwood Investment Management LLC Sells 3,394 Shares of Anika Therapeutics, Inc. (NASDAQ:ANIK)

Ironwood Investment Management LLC lowered its position in Anika Therapeutics, Inc. (NASDAQ:ANIK) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,664 shares of the biotechnology company’s stock after selling 3,394 shares during the period. Ironwood Investment Management LLC owned approximately 0.18% of Anika Therapeutics worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ANIK. Atria Investments Inc bought a new stake in Anika Therapeutics in the third quarter worth about $218,000. Cornercap Investment Counsel Inc. bought a new stake in Anika Therapeutics in the third quarter worth about $238,000. Quest Partners LLC lifted its stake in Anika Therapeutics by 115.8% in the third quarter. Quest Partners LLC now owns 6,904 shares of the biotechnology company’s stock worth $171,000 after purchasing an additional 3,705 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Anika Therapeutics by 1.7% in the third quarter. Segall Bryant & Hamill LLC now owns 108,799 shares of the biotechnology company’s stock worth $2,687,000 after purchasing an additional 1,794 shares during the last quarter. Finally, FMR LLC lifted its stake in Anika Therapeutics by 25.3% in the third quarter. FMR LLC now owns 24,721 shares of the biotechnology company’s stock worth $611,000 after purchasing an additional 4,996 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ANIK shares. Barrington Research reduced their target price on shares of Anika Therapeutics from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com raised shares of Anika Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday.

Anika Therapeutics Stock Performance

Shares of NASDAQ:ANIK opened at $15.91 on Friday. The firm has a market cap of $233.02 million, a PE ratio of -2.39 and a beta of 0.95. The firm’s 50 day simple moving average is $16.90 and its 200-day simple moving average is $19.55. Anika Therapeutics, Inc. has a one year low of $14.95 and a one year high of $29.11.

Anika Therapeutics (NASDAQ:ANIK) last issued its quarterly earnings data on Wednesday, March 12th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.13). The business had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $29.00 million. Anika Therapeutics had a negative net margin of 59.40% and a negative return on equity of 2.22%. Equities research analysts predict that Anika Therapeutics, Inc. will post -0.84 EPS for the current fiscal year.

Anika Therapeutics Company Profile

Anika Therapeutics, Inc, a joint preservation company, creates and delivers advancements in early intervention orthopedic care in the areas of osteoarthritis (OA) pain management, regenerative solutions, sports medicine, and arthrosurface joint solutions in the United States, Europe, and internationally.