Barrington raised the firm’s price target on Anika Therapeutics to $28 from $24 and keeps an Outperform rating on the shares following the Q3 beat. The firm has increasing optimism that the company’s JPR business can begin to generate consistent double-digit sales growth and material margin expansion may also be about to occur. The risk/reward at current levels for Anika “strongly favors investment,” the analyst tells investors in a research note.
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