Zacks: Brokerages Set $51.00 Price Target for Anika Therapeutics Inc (NASDAQ:ANIK)

Anika Therapeutics Inc (NASDAQ:ANIK) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price objective of $51.00 for the company and are expecting that the company will post $0.60 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Anika Therapeutics an industry rank of 73 out of 265 based on the ratings given to related companies.

Shares of Anika Therapeutics (NASDAQ:ANIK) opened at 38.16 on Monday. The stock’s 50 day moving average price is $40.33 and its 200-day moving average price is $36.34. Anika Therapeutics has a 52-week low of $30.93 and a 52-week high of $45.35. The company has a market capitalization of $558.55 million and a PE ratio of 20.94.

Anika Therapeutics (NASDAQ:ANIK) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.21. The business earned $23.70 million during the quarter, compared to analyst estimates of $22.36 million. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, analysts expect that Anika Therapeutics will post $1.88 earnings per share for the current year.

Separately, Barrington Research initiated coverage on Anika Therapeutics in a research note on Monday, October 12th. They set an “outperform” rating and a $39.00 target price on the stock.

12 Month Chart for NASDAQ:ANIK

Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products for tissue protection, healing and repair. The Company’s products are based on hyaluronic acid (NASDAQ:ANIK), a naturally occurring, biocompatible polymer found throughout the body. The Company’s wholly owned subsidiary Anika S.r.l., has about 20 products commercialized primarily in Europe. These products are also all made from HA, based on two technologies: HYAFF, which is a solid form of HA and ACP gel, an autocross-linked polymer of HA. The Company’s technologies for modifying the HA molecule allow product properties to be tailored specifically to therapeutic use. The Company offers therapeutic products from these technologies in the areas of: Orthobiologics, Dermal (Advanced wound care and Aesthetic dermatology), Surgical (Anti-adhesion and Ear, nose and throat care (ENT)), Ophthalmic and Veterinary.

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