Anika Therapeutics Inc (ANIK) is Upgraded by Singular Research to Buy, Price Target at $60

Anika Therapeutics Inc (ANIK) was Upgraded by Singular Research to ” Buy” and the brokerage firm has set the Price Target at $60. Earlier the firm had a rating of “BUY – Long-Term ” on the company shares. Singular Research advised their investors in a research report released on May 9, 2016.

Many Wall Street Analysts have commented on Anika Therapeutics Inc. Anika Therapeutics Inc was Downgraded by Northland Capital to ” Market Perform” on Apr 27, 2016. Company shares were Reiterated by Barrington Research on Feb 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 49 from a previous price target of $45 .

On the company’s financial health, Anika Therapeutics Inc reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.27. The company had revenue of $22.30 million for the quarter, compared to analysts expectations of $19.26 million. The company’s revenue was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Anika Therapeutics Inc opened for trading at $43.98 and hit $44.44 on the upside on Friday, eventually ending the session at $44.03, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 2,02,285 shares. Company has a market cap of $631 M.

In a different news, on Aug 11, 2015, John C Moran (director) sold 2,000 shares at $36.18 per share price. According to the SEC, on Aug 3, 2015, Raymond J Land (director) sold 1,708 shares at $37.58 per share price.

Anika Therapeutics Inc. develops manufactures and commercializes therapeutic products for tissue protection healing and repair. The Company’s products are based on hyaluronic acid (HA) 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.

Anika Therapeutics Inc

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