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Anika Therapeutics Inc (NASDAQ:ANIK) has been downgraded to Hold in a report by Zacks Investment Research today.

Zacks Investment Research has downgraded Anika Therapeutics Inc (NASDAQ:ANIK) to Hold in a report released on 10/11/2016.

Previously on Monday May 09, 2016, Singular Research reported on Anika Therapeutics Inc (NASDAQ:ANIK) increased the target price from $0.00 to $60.00. At the time, this indicated a possible upside of 0.35%.

Yesterday Anika Therapeutics Inc (NASDAQ:ANIK) traded -2.24% lower at $46.75. The company’s 50-day moving average is $47.61 and its 200-day moving average is $48.13. The last closing price is down -2.87% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time period. 59,102 shares of the stock traded hands, down from an average trading volume of 114,602

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Anika Therapeutics Inc (NASDAQ:ANIK)

Anika Therapeutics Inc has a 52 week low of $32.60 and a 52 week high of $54.96 with a P/E ratio of 20.41 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 4 brokers have issued a research note on the company. The average stock price target is $51.75 with 2 brokers rating the stock a strong buy, 1 broker rating the stock a buy, 1 broker rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Anika Therapeutics Inc (NASDAQ:ANIK)

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. Its therapeutic offerings consist of products in the areas, such as Orthobiologics, Dermal, Surgical, Ophthalmic and Veterinary. It offers products made from HA based on two technologies: HYAFF, which is a solid form of HA, and ACP gel, an autocross-linked polymer of HA. Its orthobiologics products primarily consist of viscosupplementation and regenerative orthopedics products. Its viscosupplementation franchise includes ORTHOVISC, ORTHOVISC mini, MONOVISC, and CINGAL.

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