First Albany Downgrades Anika Therapeutics

Analyst William Plovanic says the company's third quarter was strong, but significant issues will overhang the stock in the near term

First Albany downgraded Anika Therapeutics (ANIK ) to neutral from buy. On Friday, the company posted 8 cents third-quarter earnings per share on a 52% revenue rise and said OrthoVisc traction in the U.S. market to date has been slower than the company would like.

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