Eqis Capital Management Lowers stake in Anika Therapeutics Inc (ANIK)

Anika Therapeutics Inc (ANIK) : Eqis Capital Management reduced its stake in Anika Therapeutics Inc by 2.03% during the most recent quarter end. The investment management company now holds a total of 51,057 shares of Anika Therapeutics Inc which is valued at $2,451,757 after selling 1,060 shares in Anika Therapeutics Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Anika Therapeutics Inc makes up approximately 0.15% of Eqis Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank added ANIK to its portfolio by purchasing 10 company shares during the most recent quarter which is valued at $480.

Anika Therapeutics Inc closed down -0.81 points or -1.70% at $46.75 with 54,091 shares getting traded on Tuesday. Post opening the session at $47.5, the shares hit an intraday low of $46.6 and an intraday high of $47.92 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Anika Therapeutics Inc reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.44. The company had revenue of $26.60 million for the quarter, compared to analysts expectations of $24.73 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

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.

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